Praxis Precision Medicines, a Phase 2 biotech developing therapies for CNS disorders using genetic insights, raised $190 million by offering 10 million shares at $19, above the range of $17 to $18.
The company originally filed to offer 7.4 million shares at a range of $16 to $18, before increasing the proposed share offering and narrowing the range toward the high end in a filing on Thursday.
The company is targeting depression, epilepsy, movement disorders and pain syndromes.
Praxis Precision Medicines plans to list on the Nasdaq under the symbol PRAX. Cowen, Evercore ISI and Piper Sandler acted as joint bookrunners on the deal.
