EX-99.1 3 exhibit991reversestocksplit.htm EX-99.1 Document

UNAUDITED SELECTED FINANCIAL DATA (Amounts in thousands, except share and per share data)
Reverse Stock Split
On November 28, 2023, at 5:00 p.m., Eastern Time, Praxis Precision Medicines, Inc. ("Company") effected a 1-for-15 reverse stock split ("Reverse Stock Split") of its common stock, par value $0.0001 per share.
The Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2022, and the Company's unaudited condensed consolidated financial statements included in its Quarterly Report on Form 10-Q for the three month period ended March 31, 2023, three and six month period ended June 30, 2023, and three and nine month period ended September 30, 2023, are presented without giving effect to the Reverse Stock Split.
The following selected financial data has been derived from the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 7, 2023, and the Company's unaudited condensed consolidated financial statements included in its Quarterly Report on Form 10-Q for the three month period ended March 31, 2023, filed with the SEC on May 11, 2023, the three and six month period ended June 30, 2023, filed with the SEC on August 9, 2023, and for the three and nine month period ended September 30, 2023, filed with the SEC on November 7, 2023, and adjusted to reflect the Reverse Split. The Company's historical results may not be indicative of the results that may be expected in the future.
As Reported (audited):
Years Ended
December 31, 2022December 31, 2021
Net loss$(214,029)$(167,061)
Net loss per share attributable to common stockholders, basic and diluted$(4.64)$(3.94)
Weighted average common shares outstanding, basic and diluted46,096,737 42,454,055 
As Adjusted for the Reverse Stock Split (unaudited):
Years Ended
December 31, 2022December 31, 2021
Net loss$(214,029)$(167,061)
Net loss per share attributable to common stockholders, basic and diluted$(69.65)$(59.03)
Weighted average common shares outstanding, basic and diluted3,073,100 2,830,253 
As Reported (unaudited):
Three Months Ended
March 31, 2023March 31, 2022
Net loss$(37,455)$(68,717)
Net loss per share attributable to common stockholders, basic and diluted$(0.71) $(1.51)
Weighted average common shares outstanding, basic and diluted53,102,907 45,455,179 
As Adjusted for the Reverse Stock Split (unaudited):
Three Months Ended
March 31, 2023March 31, 2022
Net loss$(37,455)$(68,717)
Net loss per share attributable to common stockholders, basic and diluted$(10.58)$(22.68)
Weighted average common shares outstanding, basic and diluted3,540,185 3,030,339 
As Reported (unaudited):


Three Months Ended
June 30, 2023June 30, 2022
Net loss$(34,312)$(60,194)
Net loss per share attributable to common stockholders, basic and diluted$(0.49) $(1.32)
Weighted average common shares outstanding, basic and diluted69,740,719 45,542,600 
As Adjusted for the Reverse Stock Split (unaudited):
Three Months Ended
June 30, 2023June 30, 2022
Net loss$(34,312)$(60,194)
Net loss per share attributable to common stockholders, basic and diluted$(7.38)$(19.83)
Weighted average common shares outstanding, basic and diluted4,649,371 3,036,170 
As Reported (unaudited):
Six Months Ended
June 30, 2023June 30, 2022
Net loss$(71,767)$(128,911)
Net loss per share attributable to common stockholders, basic and diluted$(1.17) $(2.83)
Weighted average common shares outstanding, basic and diluted61,467,774 45,499,131 
As Adjusted for the Reverse Stock Split (unaudited):
Six Months Ended
June 30, 2023June 30, 2022
Net loss$(71,767)$(128,911)
Net loss per share attributable to common stockholders, basic and diluted$(17.51)$(42.50)
Weighted average common shares outstanding, basic and diluted4,097,833 3,033,266 
As Reported (unaudited):
Three Months Ended
September 30, 2023September 30, 2022
Net loss$(24,632)$(43,945)
Net loss per share attributable to common stockholders, basic and diluted$(0.18)$(0.96)
Weighted average common shares outstanding, basic and diluted135,591,429 45,774,376 
As Adjusted for the Reverse Stock Split (unaudited):
Three Months Ended
September 30, 2023September 30, 2022
Net loss$(24,632)$(43,945)
Net loss per share attributable to common stockholders, basic and diluted$(2.72)$(14.40)
Weighted average common shares outstanding, basic and diluted9,039,427 3,051,622 
As Reported (unaudited):


Nine Months Ended
September 30, 2023September 30, 2022
Net loss$(96,399)$(172,856)
Net loss per share attributable to common stockholders, basic and diluted$(1.12)$(3.79)
Weighted average common shares outstanding, basic and diluted86,447,174 45,591,888 
As Adjusted for the Reverse Stock Split (unaudited):
Nine Months Ended
September 30, 2023September 30, 2022
Net loss$(96,399)$(172,856)
Net loss per share attributable to common stockholders, basic and diluted$(16.73)$(56.87)
Weighted average common shares outstanding, basic and diluted5,763,121 3,039,448