Praxis’ Investigational Depression Drug PRAX-114 Fails Clinical Trial

Praxis Precision Medicines’ investigational GABA type A receptor drug PRAX-114 failed a phase 2/3 clinical trial that was evaluating the drug’s efficacy and safety as monotherapy for patients with major depressive disorder.

The company said that the study did not reach its primary endpoint of improvements in the 17-item Hamilton Depression Rating Scale total score by day 15 and none of the secondary endpoints were met.

In response to the disappointing results, the company plans to lay off an undisclosed number of its workforce and will be reducing its operating expenses.