Updated
The most significant concentration Praxis Precision Medicines discloses is ulixacaltamide, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Praxis Precision Medicines’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1: 'Our most advanced program, ulixacaltamide, is a differentiated and highly selective small molecule inhibitor of T-type calcium channels in development for the treatment of essential tremor'”
“10-K Item 1: 'We have submitted an NDA for relutrigine for the treatment of SCN2A-DEE and SCN8A-DEE to the FDA based on data from the EMBOLD study'”
The company's concentration profile is defined by a narrow clinical pipeline with two programs of comparable disclosed size, both carrying mixed structural and dependency character. The most advanced program, ulixacaltamide, is a selective small molecule inhibitor in development for the treatment of essential tremor — a moderate-share exposure. Alongside it, the company has submitted an NDA for relutrigine for the treatment of SCN2A-DEE and SCN8A-DEE based on data from the EMBOLD study — also a moderate-share exposure. Together these two programs constitute the substantial majority of the company's near-term value-creation thesis. The mixed character of both exposures reflects the dual nature of pipeline risk: clinical development programs are structural in the sense that the company's strategy is deliberately organized around them, but they also carry dependency features — regulatory approval, commercial launch, and market adoption are all external gating events that could unfold unfavorably. An adverse FDA decision on either program, or label restrictions that limit addressable patient populations, would have a direct effect on the company's ability to generate revenue from that asset. On balance, a two-program portfolio at this stage of development represents a degree of diversification compared to a single-asset clinical-stage company, but the concentration in pipeline rather than marketed revenue means near-term outcomes remain binary in nature for each asset. There are no disclosed customer, geographic, or supplier concentrations layered on top.
For the engine’s reasoning on PRAX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| PRAX● | Praxis Precision Medicines, Inc | 0 | 2 | 0 | 2 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.