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PRAX • CIK 0001689548
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Revenues | $2,447 | $8,553 | $0 | $0 |
| Operating Income (Loss) | $-126,373 | $-200,165 | $-326,198 | $-378,167 |
| Net Income (Loss) Attributable to Parent | $-123,277 | $-182,819 | $-303,268 | $-339,126 |
| Weighted Average Number of Shares Outstanding, Basic | 6,594,316 | 17,906,794 | 22,504,676 | 30,246,537 |
| Research and Development Expense | $86,766 | $152,413 | $267,115 | $290,706 |
| General and Administrative Expense | $42,054 | $56,305 | $59,083 | $87,461 |
| Operating Expenses | $128,820 | $208,718 | $326,198 | $378,167 |
| Other Nonoperating Income (Expense) | $3,096 | $17,346 | $22,930 | $39,041 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 738,280 | 2,041,131 | 2,383,586 | 2,313,486 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | $81,300 | $215,372 | $357,329 | $474,761 |
| Marketable Securities, Current | — | — | $242,002 | $283,790 |
| Marketable Securities, Noncurrent | — | — | $326,757 | $615,290 |
| Prepaid Expense and Other Assets, Current | $3,580 | $11,805 | $11,580 | $13,352 |
| Property, Plant and Equipment, Net | $588 | $230 | $147 | $492 |
| Assets, Current | $84,880 | $404,372 | $610,911 | $771,903 |
| Operating Lease, Right-of-Use Asset | $2,064 | $1,131 | $92 | $1,001 |
| Other Assets, Noncurrent | $416 | $416 | $0 | $643 |
| Assets | $87,948 | $483,110 | $937,907 | $1,390,102 |
| Liabilities | $18,279 | $37,660 | $59,771 | $49,058 |
| Accounts Payable, Current | $5,815 | $12,528 | $24,628 | $23,386 |
| Accrued Liabilities, Current | $7,416 | $23,763 | $35,033 | $24,585 |
| Operating Lease, Liability, Current | $1,126 | $1,259 | $110 | $1,087 |
| Liabilities, Current | $15,749 | $37,550 | $59,771 | $49,058 |
| Operating Lease, Liability, Noncurrent | $1,369 | $110 | $0 | $0 |
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 |
| Common Stock, Value, Issued | $13 | $14 | $15 | $15 |
| Additional Paid in Capital | $723,577 | $1,281,522 | $2,017,566 | $2,659,990 |
| Retained Earnings (Accumulated Deficit) | $-653,921 | $-836,740 | $-1,140,008 | $-1,316,289 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $0 | $654 | $563 | $-2,672 |
| Stockholders' Equity Attributable to Parent | $69,669 | $445,450 | $878,136 | $1,341,044 |
| Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 |
| Preferred Stock, Shares Issued | 0 | 0 | 0 | 0 |
| Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 |
| Common Stock, Shares, Outstanding | 8,791,877 | 19,422,358 | 25,195,092 | 27,916,593 |
| Operating Lease, Liability | $2,495 | $1,369 | $110 | $1,400 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $19,685 | $134,072 | $141,957 | $316,930 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $81,716 | $215,788 | $357,745 | $728,511 |
| Net Income (Loss) Attributable to Parent | $-123,277 | $-182,819 | $-303,268 | $-339,126 |
| Net Cash Provided by (Used in) Operating Activities | $-111,136 | $-131,757 | $-249,068 | $-305,076 |
| Payments to Acquire Property, Plant, and Equipment | $50 | $0 | $56 | $307 |
| Payments to Acquire Debt Securities, Available-for-sale | $0 | $371,519 | $623,812 | $1,029,458 |
| Proceeds from Sale and Maturity of Marketable Securities | $39,000 | $123,025 | $312,720 | $419,267 |
| Net Cash Provided by (Used in) Investing Activities | $38,950 | $-248,494 | $-311,148 | $-611,271 |
| Payment, Tax Withholding, Share-based Payment Arrangement | $137 | $308 | $2,089 | $14,104 |
| Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised | $416 | $2,633 | $13,274 | $13,274 |
| Net Cash Provided by (Used in) Financing Activities | $91,871 | $514,323 | $702,173 | $1,233,277 |
| Cash and Cash Equivalents, at Carrying Value | $81,300 | $215,372 | $357,329 | $728,095 |
| Restricted Cash | $416 | $416 | $416 | $416 |
| Depreciation | $432 | $358 | $140 | $119 |
| Share-based Payment Arrangement, Noncash Expense | $24,857 | $41,360 | $33,941 | $45,806 |
| Operating Lease, Right-of-Use Asset, Amortization Expense | $837 | $933 | $1,040 | $1,050 |
| Accretion (Amortization) of Discounts and Premiums, Investments | $-47 | $5,010 | $3,592 | $2,720 |
| Other Noncash Income (Expense) | — | — | $7 | $7 |
| Increase (Decrease) in Prepaid Expense and Other Assets | $-6,772 | $8,225 | $-640 | $8,465 |
| Increase (Decrease) in Accounts Payable | $-8,855 | $6,713 | $12,097 | $-5,559 |
| Increase (Decrease) in Accrued Liabilities | $-8,497 | $16,110 | $11,200 | $5,560 |
| IncreaseDecreaseInOperatingLeaseLiability | — | — | $-1,259 | $-1,094 |
| Increase (Decrease) in Contract with Customer, Liability | $-2,447 | $-2,553 | $0 | $0 |
| Other Operating Activities, Cash Flow Statement | $0 | $2 | $0 | $-640 |