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SEC filingOperating losses widened 41.7% to -$105.9M in Q1 2026 as Praxis intensified R&D investments in late-stage CNS trials, driving net losses to -$92.6M despite EPS improvement to -$3.20, with cash sufficient to fund operations into 2028.
Net income followed suit, deepening to -$92.6 million from -$69.3 million, a 33.6% deterioration year-over-year. Higher interest income provided some offset, but the core driver remains elevated operating expenses amid the company's growth trajectory. Diluted EPS showed resilience, improving 2.7% to -$3.20 from -$3.29, primarily because the larger loss was spread over more shares outstanding following recent offerings that bolstered the balance sheet for ongoing operations.
Looking ahead, management anticipates general and administrative expenses will rise with further headcount expansion to back R&D growth and potential commercialization of product candidates like those from the Solidus™ platform. Since inception, Praxis has incurred significant losses each period, necessitating substantial capital to sustain operations and execute its strategy. The Q1 results demonstrate disciplined execution amid these investments, positioning the company to navigate clinical milestones while maintaining a multi-year cash runway.