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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Praxis Precision Medicines reported revenue of $0 in the fiscal year ended Dec 2025, down 100.0% from the year before. Net income was −$303M. Operating cash flow of −$249M less capital expenditure of $56,000 left free cash flow of −$249M.
Ranks among the 78 drug manufacturers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | 0.0 | 2.4 | 8.6 | 0.0 |
| Research & development | 120 | 155 | 86.8 | 152 | 267 |
| Operating income | −167 | −215 | −126 | −200 | −326 |
| Pre-tax income | −167 | – | −123 | −183 | −303 |
| Income tax | 0.0 | – | – | – | 0.5 |
| Net income | −167 | −214 | −123 | −183 | −303 |
| Diluted EPS | −3.94 | −69.65 | −18.69 | −10.21 | −13.48 |
| Diluted shares | 42.5 | 3.1 | 6.6 | 17.9 | 22.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 139 | 61.6 | 81.3 | 215 | 357 |
| Current assets | 287 | 111 | 84.9 | 404 | 611 |
| Net PP&E | 1.2 | 1.0 | 0.6 | 0.2 | 0.1 |
| Total assets | 293 | 115 | 87.9 | 483 | 938 |
| Payables | 10.8 | 14.7 | 5.8 | 12.5 | 24.6 |
| Deferred revenue | 0.0 | 2.8 | 1.4 | 0.0 | – |
| Current liabilities | 38.4 | 34.3 | 15.7 | 37.6 | 59.8 |
| Total liabilities | 41.9 | 39.0 | 18.3 | 37.7 | 59.8 |
| Shareholders' equity | 251 | 76.1 | 69.7 | 445 | 878 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −125 | −185 | −111 | −132 | −249 |
| Capital expenditure | 1.1 | 0.4 | 0.1 | 0.0 | 0.1 |
| Free cash flow | −126 | −185 | −111 | −132 | −249 |
| Depreciation & amortisation | 0.2 | 0.4 | 0.4 | 0.4 | 0.1 |
| Stock-based compensation | 22.7 | 28.6 | 24.9 | 41.4 | 33.9 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | – | 249.5% | −100.0% |
| Operating margin | – | – | −5164.4% | −2340.3% | – |
| Net margin | – | – | −5037.9% | −2137.5% | – |
| Return on equityBlank when equity is negative | −66.6% | −281.2% | −176.9% | −41.0% | −34.5% |
| ROCEEBIT ÷ (assets − current liabilities) | −65.8% | −266.1% | −175.0% | −44.9% | −37.1% |
| Free cash flow margin | – | – | −4543.8% | −1540.5% | – |
| Cash conversion (CFO ÷ net income) | 0.75x | 0.86x | 0.90x | 0.72x | 0.82x |
| Current ratio | 7.48x | 3.23x | 5.39x | 10.8x | 10.2x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.