(Reuters) -Praxis Precision Medicines said on Thursday its experimental drug for movement disorder helped improve daily functioning in patients in two late-stage trials, sending its shares surging more than twofold in premarket trading.
The company was testing the drug, ulixacaltamide, for essential tremor, a nervous system condition that causes involuntary shaking and affects millions of people. There are currently no approved treatments specifically for the disorder.
In the first study, the drug, ulixacaltamide, helped patients improve their ability to perform daily tasks by 4.3 points on a commonly used scale, compared to those on placebo.
In the second trial, patients showed superior maintenance of effect while on Praxis’ drug compared to those who switched to placebo.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Shilpi Majumdar)
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