Praxis Precision Medicines (PRAX) stock jumps after Devinsky hire as FDA filings loom
Shares of Praxis Precision Medicines rose about 8% to $303.23 by mid-afternoon Wednesday after the company named epilepsy specialist Dr. Orrin Devinsky as head of clinical strategy. Investors are watching two FDA drug applications set for mid-February. Praxis recently raised $575 million in a public offering. The broader biotech sector outperformed the market, while major indexes fell.