Praxis Precision Medicines, Inc 10-K for FY2021

Praxis Precision Medicines, Inc. (PRAX)

10-K 2022-02-28 For: 2021-12-31

Added on April 08, 2026

About this 10-K

Praxis Precision Medicines, Inc filed this 10-K on February 28, 2022, covering the fiscal year ended December 31, 2021 (FY2021).

Headline figures

Fiscal year ended December 31, 2021, as reported in this filing, compared with the same period a year earlier where the filing states it.

Net loss: $167.06M; compared with a net loss of $61.82M a year earlier
Diluted EPS: -$3.94; compared with -$7.86 a year earlier

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Delaware						47-5195942
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

99 High Street, 30th Floor
Boston, MA						02110
(Address of principal executive offices)						(Zip Code)


Large accelerated filer	☒	Accelerated filer	☐

Non-accelerated filer	☐	Smaller reporting company	☒

		Emerging growth company	☐


Part I
Item 1. Business			7
Item 1A. Risk Factors			57
Item 1B. Unresolved Staff Comments			108
Item 2. Properties			108
Item 3. Legal Proceedings			108
Item 4. Mine Safety Disclosures			108
Part II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities			109
Item 6. Selected Financial Data			109
Item 7. Management's Discussion and Analysis of Financial Condition and results of Operations			110
Item 7A. Quantitative and Qualitative Disclosures About Market Risk			121
Item 8. Financial Statements and Supplementary Data			122
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure			154
Item 9A. Controls and Procedures			154
Item 9B. Other Information			155
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections			156
Part III
Item 10. Directors, Executive Officers and Corporate Governance			157
Item 11. Executive Compensation			157
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters			157
Item 13. Certain Relationships and Related Transactions, and Director Independence			157
Item 14. Principal Accounting Fees and Services			157
Part IV
Item 15. Exhibits, Financial Statement Schedules			158
Item 16. Form 10-K Summary			161
Signatures


Preferred Term	45 mg* (N=13)	60 mg (N=32)	80 mg* (N=7)	Overall (N=52)
Headache	7 (53.8%)	12 (37.5%)	3 (42.9%)	22 (42.3%)
Somnolence	2 (15.4%)	12 (37.5%)	3 (42.9%)	17 (32.7%)
Dizziness	0 (0.0%)	5 (15.6%)	4 (57.1%)	9 (17.3%)
Fatigue	3 (23.1%)	2 (6.3%)	1 (14.3%)	6 (11.5%)
Feeling abnormal	1 (7.7%)	4 (12.5%)	1 (14.3%)	6 (11.5%)
Nausea	0 (0.0%)	5 (15.6%)	1 (14.3%)	6 (11.5%)


Isoform	Gene	Expression
NaV1.1	SCN1A	CNS
NaV1.2	SCN2A	CNS
NaV1.3	SCN3A	CNS/Pancreas
NaV1.4	SCN4A	Muscle
NaV1.5	SCN5A	Heart
NaV1.6	SCN8A	CNS/PNS
NaV1.7	SCN9A	PNS
NaV1.8	SCN10A	PNS
NaV1.9	SCN11A	PNS


☒			ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


PRAX-562 Representative AP Traces						Carbamazepine Representative AP Traces

PRAX-562 Average AP Frequency During Increasing Current Steps						Carbamazepine Average AP Frequency During Increase Current Steps

PRAX-562 Average AP Amplitude During Current Step						Carbamazepine Average AP Amplitude During Current Step


	Year Ended December 31,
	2021		2020
Psychiatry	$	29,218	$	13,077
Epilepsy	23,122		9,953
Movement disorders	18,460		4,158
Other exploratory CNS indications	9,509		700
Personnel-related (including stock-based compensation)	31,090		13,483
Other indirect research and development expenses	8,858		3,605
Total research and development expenses	$	120,257	$	44,976


	Year Ended December 31,				Change
	2021		2020
Operating expenses:
Research and development	$	120,257	$	44,976	$	75,281
General and administrative	47,075		16,992		30,083
Total operating expenses	167,332		61,968		105,364
Loss from operations	(167,332)		(61,968)		(105,364)
Other income:
Other income, net	271		140		131
Total other income	271		140		131
Loss before income taxes	(167,061)		(61,828)		(105,233)
Benefit from income taxes	—		8		(8)
Net loss	$	(167,061)	$	(61,820)	$	(105,241)



			Page
Report of Independent Registered Public Accounting Firm (PCAOB ID: 42)			123
Consolidated Balance Sheets			125
Consolidated Statements of Operations			126
Consolidated Statements of Comprehensive Loss			127
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)			128
Consolidated Statements of Cash Flows			130
Notes to Consolidated Financial Statements			131


Description of the Matter			The Company’s accrued costs for research and development expenses totaled $17.8 million at December 31, 2021, including accruals related to the Company’s PRAX-114 Aria and Acapella clinical trials. In addition, the Company’s prepaid expenses and other current assets were $11.5 million, which included amounts that were paid in advance of services incurred pursuant to PRAX-114 Aria and Acapella clinical trials. As discussed in Note 2 to the consolidated financial statements, the Company analyzes the progress of the clinical trials, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates are made in determining the accrued and prepaid balances at the end of any reporting period for the Company’s PRAX-114 Aria and Acapella clinical trials. The Company is required to estimate such accruals and prepaids using judgment based on certain information, including actual costs incurred or level of effort expended, as provided by its vendors. Payments for such activities are based on the terms of the individual arrangements, which may differ from the pattern of costs incurred, and are reflected on the consolidated balance sheet within accrued or prepaid expenses and other current assets. Auditing the Company’s accrued and prepaid research and development costs for PRAX-114 Aria and Acapella clinical trials was complex, as accounting for the costs associated with these clinical trials required subjective estimates of the level of services performed and the associated costs incurred by service providers. Furthermore, due to the duration of the Company’s PRAX-114 Aria and Acapella clinical trials, and the timing of information received from third parties, the actual amounts incurred are not typically known at the time the consolidated financial statements are issued.
How We Addressed the Matter in Our Audit			We obtained an understanding, evaluated the design, and tested the operating effectiveness of internal controls over accrued and prepaid research and development costs, including assessing management’s controls over the significant judgments and estimates regarding costs incurred or level of effort expended by service providers. To evaluate the accrued and prepaid research and development costs for PRAX-114 Aria and Acapella clinical trials, our audit procedures included, among others, testing the accuracy and completeness of the underlying data used in the estimates and evaluating the significant judgments and estimates made by management to estimate the recorded accruals and prepayments. To test the significant judgments and estimates, we corroborated the progress of research and development activities through discussion with the Company’s research and development personnel that oversee the research and development projects and inspected the Company’s contracts with third parties and any pending change orders to assess the impact on amounts recorded. In addition, we reviewed estimates of costs incurred to date provided to the Company from third parties. We also analyzed fluctuations in accruals by vendor and by trial throughout the period subject to audit, evaluated the costs incurred per trial, site and/or patient for reasonableness and tested subsequent invoices received from third parties.


	December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	138,704	$	296,608
Marketable securities	137,207		—
Prepaid expenses and other current assets	11,498		5,718
Total current assets	287,409		302,326
Property and equipment, net	1,213		82
Operating lease right-of-use assets	3,653		754
Other non-current assets	472		15
Total assets	$	292,747	$	303,177
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	10,780	$	4,088
Accrued expenses	26,844		10,869
Operating lease liabilities	810		763
Total current liabilities	38,434		15,720
Long-term liabilities:
Non-current portion of operating lease liabilities	3,501		—
Total liabilities	41,935		15,720
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued or outstanding as of December 31, 2021 and December 31, 2020	—		—
Common stock, $0.0001 par value; 150,000,000 shares authorized; 45,300,514 shares issued and outstanding as of December 31, 2021, and 38,268,543 shares issued and outstanding as of December 31, 2020	5		4
Additional paid-in capital	567,598		437,007
Accumulated other comprehensive loss	(176)		—
Accumulated deficit	(316,615)		(149,554)
Total stockholders’ equity	250,812		287,457
Total liabilities and stockholders’ equity	$	292,747	$	303,177


	Common Stock			Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity
	Shares	Amount
Balance at December 31, 2020	38,268,543	$	4	$	437,007	$	(149,554)	$	—	$	287,457
Stock-based compensation expense	—	—		4,666		—		—		4,666
Issuance of common stock upon exercise of stock options	352,506	—		851		—		—		851
Change in unrealized loss on marketable securities, net of tax	—	—		—		—		(86)		(86)
Net loss	—	—		—		(27,373)		—		(27,373)
Balance at March 31, 2021	38,621,049	$	4	$	442,524	$	(176,927)	$	(86)	$	265,515
Stock-based compensation expense	—	—		5,400		—		—		5,400
Issuance of common stock from follow-on public offering, net of offering costs of $229	5,750,000	1		98,412		—		—		98,413
Issuance of common stock upon exercise of stock options	322,113	—		809		—		—		809
Change in unrealized loss on marketable securities, net of tax	—	—		—		—		36		36
Net loss	—	—		—		(36,401)		—		(36,401)
Balance at June 30, 2021	44,693,162	$	5	$	547,145	$	(213,328)	$	(50)	$	333,772
Stock-based compensation expense	—	—		6,521		—		—		6,521
Issuance of common stock upon exercise of stock options	90,909	—		309		—		—		309
Change in unrealized loss on marketable securities, net of tax	—	—		—		—		25		25
Net loss	—	—		—		(44,705)		—		(44,705)
Balance at September 30, 2021	44,784,071	$	5	$	553,975	$	(258,033)	$	(25)	$	295,922
Stock-based compensation expense	—	—		6,106		—		—		6,106
Issuance of common stock from at-the-market public offerings, net of offering costs of $598	391,997	—		7,039		—		—		7,039
Issuance of common stock upon exercise of stock options	124,446	—		478		—		—		478
Change in unrealized loss on marketable securities, net of tax	—	—		—		—		(151)		(151)
Net loss	—	—		—		(58,582)		—		(58,582)
Balance at December 31, 2021	45,300,514	$	5	$	567,598	$	(316,615)	$	(176)	$	250,812


	Series A Redeemable Convertible Preferred Stock			Series B Redeemable Convertible Preferred Stock			Series B-1 Redeemable Convertible Preferred Stock			Series C Redeemable Convertible Preferred Stock			Series C-1 Redeemable Convertible Preferred Stock			Common Stock			Additional Paid-In Capital		Accumulated Deficit		Accumulated Other Comprehensive Loss		Total Stockholders’ Equity (Deficit)
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount
Balance at December 31, 2019	8,075,799	$	9,932	14,913,704	$	49,969	2,666,666	$	10,431	9,805,827	$	50,789	—	$	—	1,621,880	$	1	$	—	$	(81,009)	$	—	$	(81,008)
Repurchase of Series C redeemable convertible preferred stock	—	—		—	—		—	—		(5,825,243)	(30,493)		—	—		—	—		—		493		—		493
Series C redeemable convertible preferred stock issuance costs	—	—		—	—		—	—		—	(37)		—	—		—	$	—	—		—		—		—
Vesting of restricted common stock awards	—	—		—	—		—	—		—	—		—	—		13,143	—		—		—		—		—
Stock-based compensation expense	—	—		—	—		—	—		—	—		—	—		—	—		147		—		—		147
Accretion of redeemable convertible preferred stock to redemption value	—	160		—	890		—	199		—	815		—	—		—	—		(147)		(1,917)		—		(2,064)
Net loss	—	—		—	—		—	—		—	—		—	—		—	—		—		(8,330)		—		(8,330)
Balance at March 31, 2020	8,075,799	$	10,092	14,913,704	$	50,859	2,666,666	$	10,630	3,980,584	$	21,074	—	$	—	1,635,023	$	1	$	—	$	(90,763)	$	—	$	(90,762)
Issuance of Series C redeemable convertible preferred stock, net of issuance costs of $4	—	—		—	—		—	—		4,563,108	23,496		—	—		—	—		—		—		—		—
Vesting of restricted common stock awards	—	—		—	—		—	—		—	—		—	—		13,142	—		—		—		—		—
Stock-based compensation expense	—	—		—	—		—	—		—	—		—	—		—	—		285		—		—		285
Accretion of redeemable convertible preferred stock to redemption value	—	162		—	890		—	198		—	789		—	—		—	—		(285)		(1,754)		—		(2,039)
Net loss	—	—		—	—		—	—		—	—		—	—		—	—		—		(11,568)		—		(11,568)
Balance at June 30, 2020	8,075,799	$	10,254	14,913,704	$	51,749	2,666,666	$	10,828	8,543,692	$	45,359	—	$	—	1,648,165	$	1	$	—	$	(104,085)	$	—	$	(104,084)
Issuance of Series C-1 redeemable convertible preferred stock, net of issuance costs of $154	—	—		—	—		—	—		—	—		19,444,453	110,096		—	—		—		—		—		—
Vesting of restricted common stock awards	—	—		—	—		—	—		—	—		—	—		13,142	—		—		—		—		—
Stock-based compensation expense	—	—		—	—		—	—		—	—		—	—		—	—		953		—		—		953
Issuance of common stock upon exercise of stock options	—	—		—	—		—	—		—	—		—	—		11,628	—		27		—		—		27
Accretion of redeemable convertible preferred stock to redemption value	—	162		—	899		—	201		—	885		—	1,796		—	—		(980)		(2,963)		—		(3,943)
Net Loss	—	—		—	—		—	—		—	—		—	—		—	—		—		(16,216)		—		(16,216)
Balance at September 30, 2020	8,075,799	$	10,416	14,913,704	$	52,648	2,666,666	$	11,029	8,543,692	$	46,244	19,444,453	$	111,892	1,672,935	$	1	$	—	$	(123,264)	$	—	$	(123,263)
Issuance of common stock upon initial public offering, net of issuance costs of $2,864																11,500,000	1		200,310		—		—		200,311
Vesting of restricted common stock awards	—	—		—	—		—	—		—	—		—	—		8,763	—		—		—		—		—
Stock-based compensation expense	—	—		—	—		—	—		—	—		—	—		—	—		3,826		—		—		3,826
Issuance of common stock upon exercise of stock options	—	—		—	—		—	—		—	—		—	—		18,868	—		61		—		—		61
Accretion of redeemable convertible preferred stock to redemption value	—	35		—	196		—	44		—	193		—	482		—	—		(366)		(584)		—		(950)
Conversion of redeemable convertible preferred stock to common stock	(8,075,799)	(10,451)		(14,913,704)	(52,844)		(2,666,666)	(11,073)		(8,543,692)	(46,437)		(19,444,453)	(112,374)		25,067,977	2		233,176		—		—		233,178
Net Loss	—	—		—	—		—	—		—	—		—	—		—	—		—		(25,706)		—		(25,706)
Balance at December 31, 2020	—	$	—	—	$	—	—	$	—	—	$	—	—	$	—	38,268,543	$	4	$	437,007	$	(149,554)	$	—	$	287,457


			Estimated Useful Life
Office furniture and equipment			5 years
Laboratory equipment			3 years
Computer equipment			3 years


			Gross Unrealized					Estimated
	Amortized Cost		Gains		Losses			Fair Value
Available-for-sale securities:
Corporate debt securities	$	52,214	$	—		$	(31)	$	52,183
Commercial paper	34,993		—			—		34,993
Debt securities issued by U.S. government agencies	12,111		—			(8)		12,103
Other debt securities	6,398		1			—		6,399
Total securities with a maturity of one year or less	$	105,716	$	1		$	(39)	$	105,678

Corporate debt securities	31,667		—			(138)		31,529
Total securities with a maturity of one to two years	$	31,667	$	—		$	(138)	$	31,529
Total available-for-sale securities	$	137,383	$	1		$	(177)	$	137,207


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	131,372	$	—	$	—	$	131,372
Marketable securities:
Corporate debt securities	—		83,712		—		83,712
Commercial paper	—		34,993		—		34,993
Debt securities issued by U.S. government agencies	12,103		—		—		12,103
Other debt securities	—		6,399		—		6,399
	$	143,475	$	125,104	$	—	$	268,579


	As of December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	290,931	$	—	$	—	$	290,931
	$	290,931	$	—	$	—	$	290,931


	As of December 31,
	2021		2020
Assets:
Operating lease right-of-use assets	$	3,653	$	754
Liabilities:
Current operating lease liabilities	$	810	$	763
Non-current portion of operating lease liabilities	3,501		—
Total lease liabilities	$	4,311	$	763


	For the year ended
	2021		2020
Operating lease cost	$	1,412	$	782
Variable lease costs	34		14
Total lease costs	$	1,446	$	796


Year Ended December 31,	Future Lease Payments
2022	$	1,160
2023	1,270
2024	1,296
2025	1,321
2026	110
Total future lease payments	$	5,157
Less: interest	(846)
Present value of operating lease liabilities	$	4,311


	Shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2020	—	$	—
Issued	496,113	41.57
Vested	—	—
Forfeited	(56,034)	39.25
Unvested as of December 31, 2021	440,079	$	41.86


	Number of Shares	Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
				(In years)	(In thousands)
Outstanding as of December 31, 2020	5,944,546	$	7.47
Granted	2,018,903	38.60
Exercised	(889,974)	2.75			$	19,735
Cancelled or Forfeited	(604,974)	17.27
Outstanding as of December 31, 2021	6,468,501	$	16.92	8.62	$	57,146
Exercisable as of December 31, 2021	2,001,767	$	8.77	8.08	$	24,971
Vested and expected to vest as of December 31, 2021	6,468,501	$	16.92	8.62	$	57,146


	Years Ended December 31,
	2021		2020
Numerator:
Net loss	$	(167,061)	$	(61,820)
Accretion and cumulative dividends on redeemable convertible preferred stock	—		(8,996)
Gain on repurchase of redeemable convertible preferred stock	—		493
Net loss attributable to common stockholders	$	(167,061)	$	(70,323)
Denominator:
Weighted average common shares outstanding, basic and diluted	42,454,055		8,950,152
Net loss per share attributable to common stockholders, basic and diluted	$	(3.94)	$	(7.86)



3.1						Amended and Restated Certificate of Incorporation of Praxis Precision Medicines, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-39620) filed on October 20, 2020)
3.2						Amended and Restated Bylaws of Praxis Precision Medicines, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K (File No. 001-39620) filed on January 7, 202 2 )
4.1						Specimen Stock Certificate Evidencing the Shares of Common Stock (incorporated by reference to Exhibit 4.1 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
4.2						Fourth Amended and Restated Investors’ Rights Agreement among Praxis Precision Medicines, Inc. and certain of its stockholders, effective as of July 24, 2020, as amended (incorporated by reference to Exhibit 4.2 to the Registrant's Registration Statement on Form S-3 (File No. 333-2 60726 ) filed on November 3, 2021)
4.3*						Description of Securities of Praxis Precision Medicines, Inc.
10.1						Form of Director Indemnification Agreement, as amended (incorporated by reference to Exhibit 10.1 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.2						Form of Officer Indemnification Agreement (incorporated by reference to Exhibit 10.2 to the Registrant's Registration Statement on Form S-1 (File No. 333-249074) filed on September 25, 2020)
10.3#						Praxis Precision Medicines, Inc. 2017 Stock Incentive Plan, as amended, and form of award agreements thereunder (incorporated by reference to Exhibit 10.3 to the Registrant's Annual Report on Form 10-K (File No. 001-39620) filed on March 17, 2021)
10.4#						Praxis Precision Medicines, Inc. 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.4 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.5#						Form of Incentive Stock Option Agreement under the 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.5 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.6#						Form of Non-Qualified Stock Option Agreement for Company Employees under the 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.6 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.7#						Form of Non-Qualified Stock Option Agreement for Non-Employee Directors under the 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.7 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.8#						Form of Restricted Stock Award Agreement under the 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.8 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.9#						Form of Restricted Stock Award Agreement for Company Employees under the 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.9 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)


10.10#		Form of Restricted Stock Award Agreement for Non-Employee Directors under the 2020 Stock Option and Incentive Plan (incorporated by reference to Exhibit 10.10 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.11#		Praxis Precision Medicines, Inc. 2020 Employee Stock Purchase Plan (incorporated by reference to Exhibit 10.11 to the Registrant's Registration Statement on Form S-1/A (File No. 333-249074) filed on October 9, 2020)
10.12#*		Amended and Restated Employment Agreement, dated October 20, 2020, by and between Praxis Precision Medicines, Inc. and Marcio Souza
10.13#*		Amended and Restated Employment Agreement, dated October 20, 2020, by and between Praxis Precision Medicines, Inc. and Bernard Ravina
10.14#*		Amended and Restated Employment Agreement, dated October 20, 2020, by and between Praxis Precision Medicines, Inc. and Nicole Sweeny
10.15#		Retention Incentive Award Letter Agreement, dated August 30, 2021, by and between Praxis Precision Medicines, Inc. and Bernard Ravina (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K (File No. 001-39620) filed on August 30, 2021)
10.16#*		Non-Employee Director Compensation Policy
10.17†		License Agreement, dated December 31, 2017, by and between Purdue Neuroscience Company and Praxis Precision Medicines, Inc. (incorporated by reference to Exhibit 10.14 to the Registrant's Registration Statement on Form S-1 (File No. 333-249074) filed on September 25, 2020)
10.18†		Cooperation and License Agreement, dated September 11, 2019, by and between RogCon Inc. and Praxis Precision Medicines, Inc. (incorporated by reference to Exhibit 10.15 to the Registrant's Registration Statement on Form S-1 (File No. 333-249074) filed on September 25, 2020)
10.19†		Research Collaboration, Option and License Agreement, dated September 11, 2019, by and between Ionis Pharmaceuticals, Inc. and Praxis Precision Medicines, Inc. (incorporated by reference to Exhibit 10.16 to the Registrant's Registration Statement on Form S-1 (File No. 333-249074) filed on September 25, 2020)
10.2		Sublease, dated May 27, 2021, by and between CBRE, Inc. and Praxis Precision Medicines, Inc. (incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K (File No. 001-39620) filed on June 2, 2021)
21.1		Subsidiaries of the Registrant (incorporated by reference to Exhibit 21.1 to the Registrant's Registration Statement on Form S-1 (File No. 333-249074) filed on September 25, 2020)
23.1*		Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm
24.1*		Power of Attorney (included on signature page hereto)
31.1*		Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*		Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS*		Inline XBRL Instance Document
101.SCH*		Inline XBRL Taxonomy Extension Schema Document
101.CAL*		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE*		XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


*	Filed herewith.
**	The certifications furnished in Exhibit 32.1 hereto are deemed to accompany this Annual Report on Form 10-K and will not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Such certifications will not be deemed to be incorporated by reference into any filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that the Registrant specifically incorporates it by reference.


#			Indicates a management contract or any compensatory plan, contract or arrangement.
†			Portions of this exhibit (indicated by asterisks) have been omitted in accordance with the rules of the Securities and Exchange Commission.


	PRAXIS PRECISION MEDICINES, INC.

Date: February 28, 2022	By:	/s/ Marcio Souza
		Marcio Souza Chief Executive Officer