As of December 31, 2024, Praxis had $469.5 million in cash, cash equivalents and marketable securities, compared to $81.3 million in cash and cash equivalents as of December 31, 2023. This increase of $388.2 million was primarily due to net proceeds from Praxis’ January 2024 and April 2024 follow-on public offerings and net proceeds from at-the-market sales of common stock, offset by cash used in operating activities. The Company’s cash, cash equivalents and marketable securities as of December 31, 2024 are expected to fund operations into 2028.
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