US Stock Market Move | Research on drugs for essential tremor has made significant progress, leading to a 240% surge in Praxis Precision Medicines (PRAX.US).

On Thursday, Praxis Precision Medicines (PRAX.US) surged 240% in early trading, hitting a three-year high at $194.90. In terms of news, the company announced that the investigational drug Ulixacaltamide for essential tremor met its primary endpoints in two pivotal Phase III studies: Study 1 showed a 4.3-point improvement in Modified ADL-11 score at week 8 (p <0.0001), with all key secondary endpoints reaching statistical significance; Study 2 demonstrated significant maintenance effects (p = 0.0369) and the first key secondary endpoint reached statistical significance (p = 0.0042). The safety data for Ulixacaltamide was favorable, with no drug-related serious adverse events reported in either study, and tolerability consistent with previous trials. The company has submitted a pre-NDA meeting request with the FDA for Ulixacaltamide to advance the drug approval process.