Praxis Precision Medicines, Inc. (PRAX) Balance Sheet
PRAX balance sheet, 2025
December 31, 2025 · U.S. dollars$937.9M assets = $59.8M liabilities + $878.1M equity
Both columns are drawn to the same scale: what PRAX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PRAX financial health
Descriptive bands, not a rating. Fiscal 2025.
PRAX balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $19.8M2018 | $937.9M2025 | +73.5%/yr | |
| Total liabilities | $5.1M2018 | $59.8M2025 | +41.9%/yr | |
| Shareholders’ equity | $14.7M2018 | $878.1M2025 | +79.4%/yr | |
| Cash & short-term investments | $17.9M2018 | $599.3M2025 | +65.1%/yr | |
| Total debt | $1.5M2019 | $110,0002025 | −35.0%/yr | |
| Net cash (debt) | $43.4M2019 | $599.2M2025 | +$555.9M | |
| Working capital | $14.0M2018 | $551.1M2025 | +$537.2M | |
| Book value per share | $10.572023 | $39.022025 | +92.2%/yr | |
| Debt / equity | 0.042019 | 0.002025 | −0.04 | |
| Shares outstanding | 6.6M2023 | 22.5M2025 | +84.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PRAX assets
PRAX liabilities and equity
PRAX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PRAX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $599.3M | $392.6M | $81.3M | $100.5M | $275.9M | $296.6M | $44.8M | $17.9M |
| Cash & equivalents | $357.3M | $215.4M | $81.3M | $61.6M | $138.7M | $296.6M | $44.8M | $17.9M |
| Short-term investments | $242.0M | $177.2M | $0 | $38.9M | $137.2M | $0 | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $11.6M | $11.8M | $3.6M | $10.4M | $11.5M | $5.7M | $681,000 | $1.2M |
| Total current assets | $610.9M | $404.4M | $84.9M | $110.8M | $287.4M | $302.3M | $45.5M | $19.1M |
| Property, plant & equipment (net) | $239,000 | $1.4M | $2.7M | $3.9M | $4.9M | $836,000 | $1.6M | $103,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $326.8M | $77.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $416,000 | $416,000 | $416,000 | $472,000 | $15,000 | $620,000 | $600,000 |
| Total assets | $937.9M | $483.1M | $87.9M | $115.1M | $292.7M | $303.2M | $47.7M | $19.8M |
| Liabilities | ||||||||
| Accounts payable | $24.6M | $12.5M | $5.8M | $14.7M | $10.8M | $4.1M | $2.7M | $3.4M |
| Short-term debt | $110,000 | $1.3M | $1.1M | $1.0M | $4.3M | $763,000 | $696,000 | — |
| Deferred revenue | — | — | $1.4M | $5.0M | — | — | — | — |
| Total current liabilities | $59.8M | $37.5M | $15.7M | $35.5M | $37.6M | $15.7M | $6.8M | $5.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $110,000 | $1.4M | $2.5M | $3.5M | $4.3M | $763,000 | $1.5M | $0 |
| Other long-term liabilities | $0 | $110,000 | $2.5M | $3.5M | $4.3M | $4.9M | $763,000 | $2,000 |
| Total liabilities | $59.8M | $37.7M | $18.3M | $39.0M | $41.9M | $15.7M | $7.6M | $5.1M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $15,000 | $14,000 | $13,000 | $5,000 | $5,000 | $4,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$1.14B | −$836.7M | −$653.9M | −$530.6M | −$316.6M | −$149.6M | −$81.0M | −$41.4M |
| Accumulated other comprehensive income | $563,000 | $654,000 | — | −$173,000 | −$176,000 | −$303.2M | −$38,000 | −$1,000 |
| Total shareholders' equity | $878.1M | $445.4M | $69.7M | $76.1M | $250.8M | $287.5M | $40.1M | $14.7M |
| Key figures | ||||||||
| Total debt | $110,000 | $1.4M | $2.5M | $4.5M | $4.3M | $763,000 | $1.5M | — |
| Net cash (debt) | $599.2M | $391.2M | $78.8M | $96.0M | $271.6M | $295.8M | $43.4M | — |
| Working capital | $551.1M | $366.8M | $69.1M | $75.3M | $249.8M | $286.6M | $38.7M | $14.0M |
| Tangible book value | $878.1M | $445.4M | $69.7M | $76.1M | $250.8M | $287.5M | $40.1M | $14.7M |
| Book value per share | $39.02 | $24.88 | $10.57 | — | — | — | — | — |
| Shares outstanding | 22.5M | 17.9M | 6.6M | — | — | — | — | — |
| Current ratio | 10.22 | 10.77 | 5.39 | 3.12 | 7.64 | 19.23 | 6.67 | 3.72 |
| Quick ratio | 10.03 | 10.45 | 5.16 | 2.83 | 7.33 | 18.87 | 6.57 | 3.49 |
| Debt / equity | 0.00 | 0.00 | 0.04 | 0.06 | 0.02 | 0.00 | 0.04 | — |
| Equity / assets | 93.6% | 92.2% | 79.2% | 66.1% | 85.7% | 94.8% | 84.1% | 74.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $758.6M | $786.9M | $599.3M | $267.2M | $301.3M | $328.0M | $392.6M | $357.0M | $351.9M | $207.4M | $81.3M | $101.1M |
| Cash & equivalents | $474.8M | $536.3M | $357.3M | $149.5M | $157.4M | $165.6M | $215.4M | $168.6M | $145.1M | $152.0M | $81.3M | $101.1M |
| Short-term investments | $283.8M | $250.5M | $242.0M | $117.6M | $143.9M | $162.4M | $177.2M | $188.4M | $206.7M | $55.4M | $0 | $0 |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $13.4M | $10.9M | $11.6M | $6.7M | $5.3M | $5.6M | $11.8M | $3.0M | $4.8M | $4.4M | $3.6M | $2.2M |
| Total current assets | $771.9M | $797.8M | $610.9M | $273.8M | $306.6M | $333.6M | $404.4M | $360.0M | $356.7M | $211.8M | $84.9M | $103.3M |
| Property, plant & equipment (net) | $1.5M | $1.5M | $239,000 | $536,000 | $884,000 | $1.1M | $1.4M | $1.7M | $2.0M | $2.3M | $2.7M | $3.0M |
| Goodwill & intangible assets | $773,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $615.3M | $660.9M | $326.8M | $122.0M | $145.4M | $144.0M | $77.0M | $54.1M | $82.0M | $35.9M | $0 | $0 |
| Other non-current assets | $643,000 | $0 | $0 | $0 | $0 | $0 | $416,000 | $416,000 | $416,000 | $416,000 | $416,000 | $416,000 |
| Total assets | $1.39B | $1.46B | $937.9M | $396.4M | $452.8M | $478.7M | $483.1M | $416.3M | $441.1M | $250.4M | $87.9M | $106.7M |
| Liabilities | ||||||||||||
| Accounts payable | $23.4M | $31.2M | $24.6M | $30.8M | $28.8M | $22.9M | $12.5M | $15.0M | $8.2M | $9.4M | $5.8M | $7.2M |
| Short-term debt | $1.1M | $1.4M | $110,000 | $436,000 | $755,000 | $1.1M | $1.3M | $1.2M | $1.2M | $1.2M | $1.1M | $1.1M |
| Deferred revenue | — | — | — | — | — | — | — | $1.2M | $1.2M | $1.3M | $1.4M | $1.6M |
| Total current liabilities | $49.1M | $50.2M | $59.8M | $52.9M | $48.6M | $39.5M | $37.5M | $32.9M | $20.6M | $18.8M | $15.7M | $16.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.1M | $1.4M | $110,000 | $436,000 | $755,000 | $1.1M | $1.4M | $1.7M | $1.9M | $2.2M | $2.5M | $2.8M |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $110,000 | $729,000 | $1.3M | $1.9M | $2.5M | $3.2M |
| Total liabilities | $49.1M | $50.2M | $59.8M | $52.9M | $48.6M | $39.5M | $37.7M | $33.6M | $22.0M | $20.7M | $18.3M | $20.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $15,000 | $15,000 | $15,000 | $14,000 | $14,000 | $14,000 | $14,000 | $14,000 | $14,000 | $13,000 | $13,000 | $13,000 |
| Retained earnings (deficit) | −$1.32B | −$1.23B | −$1.14B | −$1.05B | −$977.2M | −$906.0M | −$836.7M | −$778.1M | −$726.2M | −$693.5M | −$653.9M | −$627.0M |
| Accumulated other comprehensive income | −$2.7M | −$1.6M | $563,000 | $500,000 | $395,000 | $659,000 | $654,000 | $1.3M | −$71,000 | $3,000 | — | $0 |
| Total shareholders' equity | $1.34B | $1.41B | $878.1M | $343.5M | $404.2M | $439.2M | $445.4M | $382.7M | $419.1M | $229.7M | $69.7M | $86.8M |
| Key figures | ||||||||||||
| Total debt | $1.1M | $1.4M | $110,000 | $436,000 | $755,000 | $1.1M | $1.4M | $1.7M | $1.9M | $2.2M | $2.5M | $2.8M |
| Net cash (debt) | $757.5M | $785.4M | $599.2M | $266.7M | $300.5M | $326.9M | $391.2M | $355.4M | $349.9M | $205.2M | $78.8M | $98.3M |
| Working capital | $722.8M | $747.5M | $551.1M | $221.0M | $258.0M | $294.1M | $366.8M | $327.2M | $336.1M | $193.0M | $69.1M | $86.5M |
| Tangible book value | $1.34B | $1.41B | $878.1M | $343.5M | $404.2M | $439.2M | $445.4M | $382.7M | $419.1M | $229.7M | $69.7M | $86.8M |
| Book value per share | $46.03 | $48.82 | $39.02 | $15.63 | $18.82 | $20.86 | $22.29 | $20.26 | $22.26 | $16.52 | $7.69 | $9.60 |
| Shares outstanding | 29.1M | 28.9M | 22.5M | 22.0M | 21.5M | 21.1M | 20.0M | 18.9M | 18.8M | 13.9M | 9.1M | 9.0M |
| Current ratio | 15.73 | 15.88 | 10.22 | 5.18 | 6.31 | 8.44 | 10.77 | 10.96 | 17.30 | 11.27 | 5.39 | 6.15 |
| Quick ratio | 15.46 | 15.66 | 10.03 | 5.05 | 6.20 | 8.30 | 10.45 | 10.86 | 17.06 | 11.04 | 5.16 | 6.02 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.04 | 0.03 |
| Equity / assets | 96.5% | 96.6% | 93.6% | 86.7% | 89.3% | 91.7% | 92.2% | 91.9% | 95.0% | 91.7% | 79.2% | 81.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
PRAX financial position
At the end of fiscal 2025 (December 31, 2025), Praxis Precision Medicines had total assets of $937.9 million (up 94.1% from a year earlier), total liabilities of $59.8 million and shareholders' equity of $878.1 million. It held $599.3 million in cash and short-term investments against $0.1 million of debt, a net cash position of $599.2 million. Its current ratio was 10.22. In the latest quarter (ended June 30, 2026) total assets were $1.4 billion and equity $1.3 billion.
Related: PRAX income statement, PRAX cash flow statement, PRAX key metrics. See the PRAX stock overview for the latest quote and news.
PRAX balance sheet FAQ
What are Praxis Precision Medicines's total assets?
Praxis Precision Medicines reported total assets of $937.9 million at the end of fiscal 2025 (December 31, 2025), compared with $483.1 million a year earlier.
How much debt does Praxis Precision Medicines have?
Praxis Precision Medicines had $0.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Praxis Precision Medicines have?
Praxis Precision Medicines held $599.3 million in cash and short-term investments at the end of fiscal 2025; with $0.1 million of debt that is net cash of $599.2 million.
What is Praxis Precision Medicines's book value?
Praxis Precision Medicines's shareholders' equity (book value) was $878.1 million at the end of fiscal 2025, or $39.02 per share.
What is Praxis Precision Medicines's current ratio?
Praxis Precision Medicines had current assets of $610.9 million and current liabilities of $59.8 million, a current ratio of 10.22 (it can cover its short-term obligations).