Praxis Precision Medicines, Inc. (PRAX) Covered Calls

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on central nervous system (CNS) disorders. The firm develops therapies for neurological conditions characterized by neuronal excitation-inhibition imbalance. Its lead programs target genetic epilepsies and movement disorders using proprietary small molecule and antisense oligonucleotide platforms.

You can sell covered calls on Praxis Precision Medicines, Inc. to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for PRAX (prices last updated Tue 4:16 PM ET):

Praxis Precision Medicines, Inc. (PRAX) Stock Quote
Last	Change	Bid	Ask	Volume	P/E	Market Cap
342.71	+0.25	339.00	347.00	495K	-	10

Covered Calls For Praxis Precision Medicines, Inc. (PRAX)
Expiration	Strike	Call Bid	Net Debit	Return If Flat	Annualized Return If Flat
Mar 20	340	22.80	324.20	4.9%	71.5%
Apr 17	340	35.00	312.00	9.0%	62.0%
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Core Business and Products

Praxis Precision Medicines is a specialized neuroscience company utilizing genetic insights to develop therapies for complex CNS disorders. The company’s pipeline is built on two distinct platforms: Cerebrum™, which focuses on small molecule discovery, and Solidus™, an antisense oligonucleotide (ASO) platform. In early 2026, Praxis reached a major inflection point by submitting New Drug Applications (NDAs) for its two lead assets: ulixacaltamide, for the treatment of essential tremor, and relutrigine, for developmental and epileptic encephalopathies (DEEs). Additionally, its candidate vormatrigine is in registrational trials for focal onset seizures, aiming to address significant unmet needs in the global epilepsy market.

Competitive Landscape

The precision neuroscience sector is highly competitive, with established biopharmaceutical firms racing to develop disease-modifying therapies. Praxis competes for investor capital and market share against several publicly traded biotech companies. Key rivals with active options markets on major exchanges include Arrowhead Pharmaceuticals, Inc., Cytokinetics, Incorporated, and Halozyme Therapeutics, Inc.. In the broader rare disease and epilepsy space, it faces competition from larger entities like Biogen Inc. and Vertex Pharmaceuticals Incorporated. Praxis distinguishes itself through its specific focus on sodium channel modulation and its high-velocity clinical execution.

Strategic Outlook and Innovation

Entering 2026, Praxis is pivoting from a research-led organization to a commercial-ready biopharma entity. Following a successful $621 million capital raise in January 2026, the company holds a pro forma cash balance of approximately $1.5 billion, providing a multi-year runway to support the potential launches of ulixacaltamide and relutrigine. Strategy is currently focused on patient identification using a proprietary database of over 200,000 CNS patients and preparing for global commercial infrastructure. Innovation continues with "POWER3," a new registrational study for vormatrigine as a monotherapy. The long-term outlook depends on successful FDA approvals in late 2026 and the firm's ability to realize its $20 billion peak revenue estimates across its four late-stage assets.

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