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[8-K] Praxis Precision Medicines, Inc. Reports Material Event

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8-K
Rhea-AI Filing Summary

Alexander’s Inc. (ALX) Q2-25 10-Q highlights: Rental revenue slipped 3.4% YoY to $51.6 m as Home Depot’s 83 k sf lease at 731 Lexington expired in Jan-25 and IKEA vacated Rego Park I in 4Q-23. Net income fell 27% to $6.1 m ($1.19/sh) and FFO dropped 13% to $14.8 m ($2.88/sh). Six-month figures show rental revenue down 7.2% to $106.5 m and net income down 24.7% to $18.4 m, while dividends of $9.00/sh consumed $46.2 m—well above YTD earnings.

Balance sheet & cash: Cash and restricted cash remain strong at $390.3 m; operating cash flow of $59.3 m covered cap-ex ($14.6 m) and most dividends. Equity declined to $145.4 m (-18%) mainly from distributions and OCI losses on interest-rate hedges. Mortgages total $987.6 m; key maturities include the $300 m 731 Lex retail loan now extended to 3 Oct 25 and the $200.6 m Rego Park II loan due 12 Dec 25, both floating at SOFR+ spreads. Interest expense benefited from cap amortization and lower balances.

Operations: Commercial occupancy is 94.8% (residential 98.7%). Bloomberg, newly extended to 2040, accounts for 61% of rental revenue, underscoring significant tenant concentration risk. Management continues to market the vacant Rego Park I site for sale or redevelopment. No material litigation; insurance coverage of up to $1.7 bn for terrorism remains in place.

Punti salienti del 10-Q del Q2-25 di Alexander’s Inc. (ALX): I ricavi da locazione sono diminuiti del 3,4% su base annua, attestandosi a 51,6 milioni di dollari, a causa della scadenza nel gennaio 2025 del contratto di locazione di Home Depot per 83.000 piedi quadrati al 731 Lexington e dell’abbandono di IKEA a Rego Park I nel quarto trimestre 2023. L’utile netto è calato del 27% a 6,1 milioni di dollari (1,19 dollari per azione) e il FFO è sceso del 13% a 14,8 milioni di dollari (2,88 dollari per azione). Nei primi sei mesi, i ricavi da locazione sono diminuiti del 7,2% a 106,5 milioni di dollari e l’utile netto del 24,7% a 18,4 milioni di dollari, mentre i dividendi per azione di 9,00 dollari hanno assorbito 46,2 milioni di dollari, ben oltre gli utili accumulati nell’anno.

Bilancio e liquidità: La liquidità e la liquidità vincolata rimangono solide a 390,3 milioni di dollari; il flusso di cassa operativo di 59,3 milioni di dollari ha coperto le spese in conto capitale (14,6 milioni di dollari) e la maggior parte dei dividendi. Il patrimonio netto è sceso a 145,4 milioni di dollari (-18%), principalmente a causa delle distribuzioni e delle perdite OCI sugli strumenti di copertura dei tassi di interesse. I mutui ammontano a 987,6 milioni di dollari; le scadenze principali includono il prestito retail da 300 milioni di dollari per il 731 Lexington, ora esteso fino al 3 ottobre 2025, e il prestito Rego Park II da 200,6 milioni di dollari in scadenza il 12 dicembre 2025, entrambi a tasso variabile SOFR più spread. Le spese per interessi hanno beneficiato dell’ammortamento del capitale e di saldi ridotti.

Operazioni: L’occupazione commerciale è al 94,8% (residenziale al 98,7%). Bloomberg, con contratto recentemente esteso fino al 2040, rappresenta il 61% dei ricavi da locazione, evidenziando un significativo rischio di concentrazione degli inquilini. La direzione continua a promuovere la vendita o la riqualificazione del sito vacante di Rego Park I. Non vi sono contenziosi rilevanti; rimane in vigore una copertura assicurativa fino a 1,7 miliardi di dollari per il terrorismo.

Aspectos destacados del 10-Q del 2T-25 de Alexander’s Inc. (ALX): Los ingresos por alquiler disminuyeron un 3,4% interanual hasta 51,6 millones de dólares, debido a que el contrato de arrendamiento de Home Depot de 83.000 pies cuadrados en 731 Lexington expiró en enero de 2025 y IKEA desocupó Rego Park I en el cuarto trimestre de 2023. La utilidad neta cayó un 27% hasta 6,1 millones de dólares (1,19 dólares por acción) y el FFO bajó un 13% hasta 14,8 millones de dólares (2,88 dólares por acción). En los primeros seis meses, los ingresos por alquiler descendieron un 7,2% hasta 106,5 millones de dólares y la utilidad neta un 24,7% hasta 18,4 millones de dólares, mientras que los dividendos de 9,00 dólares por acción consumieron 46,2 millones de dólares, muy por encima de las ganancias acumuladas en el año.

Balance y efectivo: El efectivo y efectivo restringido se mantienen sólidos en 390,3 millones de dólares; el flujo de caja operativo de 59,3 millones cubrió gastos de capital (14,6 millones) y la mayoría de los dividendos. El patrimonio neto disminuyó a 145,4 millones (-18%), principalmente por distribuciones y pérdidas OCI en coberturas de tasas de interés. Las hipotecas suman 987,6 millones; vencimientos clave incluyen el préstamo minorista de 300 millones para 731 Lexington, ahora extendido hasta el 3 de octubre de 2025, y el préstamo de Rego Park II de 200,6 millones con vencimiento el 12 de diciembre de 2025, ambos a tasa variable SOFR más spread. Los gastos por intereses se beneficiaron de la amortización del capital y saldos menores.

Operaciones: La ocupación comercial es del 94,8% (residencial 98,7%). Bloomberg, recientemente extendido hasta 2040, representa el 61% de los ingresos por alquiler, lo que resalta un riesgo significativo de concentración de inquilinos. La gerencia continúa promoviendo la venta o el desarrollo del sitio vacante de Rego Park I. No hay litigios materiales; sigue vigente una cobertura de seguro de hasta 1,7 mil millones para terrorismo.

Alexander’s Inc. (ALX) 2025� 2분기 10-Q 주요 내용: 홈디포가 2025� 1� 만료� 731 렉싱� 83,000평방피트 임대와 IKEA가 2023� 4분기� 비워� Rego Park I으로 인해 임대 수익� 전년 대� 3.4% 감소� 5,160� 달러� 기록했습니다. 순이익은 27% 감소� 610� 달러(주당 1.19달러), FFO� 13% 감소� 1,480� 달러(주당 2.88달러)� 기록했습니다. 6개월 누계 수치� 임대 수익� 7.2% 감소� 1� 650� 달러, 순이익은 24.7% 감소� 1,840� 달러이며, 주당 9.00달러� 배당� 지급으� 4,620� 달러가 소요되어 연간 수익� 크게 상회했습니다.

대차대조표 � 현금: 현금 � 제한 현금은 3� 9,030� 달러� 견조하며, 영업 현금 흐름 5,930� 달러� 자본� 지�(1,460� 달러)� 대부분의 배당금을 충당했습니다. 자본은 분배금과 이자� 헤지 관� OCI 손실� 인해 1� 4,540� 달러(-18%)� 감소했습니다. 담보 대� 총액은 9� 8,760� 달러이며, 주요 만기� 731 렉싱� 소매 대� 3� 달러� 2025� 10� 3일까지 연장되었�, 2025� 12� 12� 만기� Rego Park II 대� 2� 60� 달러�, � 대� 모두 SOFR+ 스프레드 변� 금리입니�. 이자 비용은 원금 상환 � 잔액 감소� 혜택� 받았습니�.

운영: 상업� 점유율은 94.8%(주거� 98.7%)입니�. 2040년까지 연장� Bloomberg가 임대 수익� 61%� 차지하여 임차� 집중 위험� 큽니�. 경영진은 비어 있는 Rego Park I 부지� 매각 또는 재개발을 계속 추진하고 있습니다. 중대� 소송은 없으�, 테러리즘� 대� 최대 17� 달러� 보험 보장은 유지되고 있습니다.

Points clés du 10-Q du T2-25 d’Alexander’s Inc. (ALX) : Les revenus locatifs ont diminué de 3,4 % en glissement annuel à 51,6 millions de dollars, en raison de l’expiration en janvier 2025 du bail de Home Depot de 83 000 pieds carrés au 731 Lexington et du départ d’IKEA de Rego Park I au 4e trimestre 2023. Le bénéfice net a chuté de 27 % à 6,1 millions de dollars (1,19 $/action) et le FFO a diminué de 13 % à 14,8 millions de dollars (2,88 $/action). Sur six mois, les revenus locatifs ont baissé de 7,2 % à 106,5 millions de dollars et le bénéfice net de 24,7 % à 18,4 millions de dollars, tandis que les dividendes de 9,00 $/action ont absorbé 46,2 millions de dollars, bien au-delà des bénéfices cumulés.

Bilan et trésorerie : La trésorerie et les liquidités restreintes restent solides à 390,3 millions de dollars ; le flux de trésorerie d’exploitation de 59,3 millions a couvert les dépenses d’investissement (14,6 millions) et la majorité des dividendes. Les capitaux propres ont diminué à 145,4 millions (-18 %), principalement en raison des distributions et des pertes OCI liées aux couvertures de taux d’intérêt. Les hypothèques totalisent 987,6 millions ; les échéances clés comprennent le prêt commercial de 300 millions pour le 731 Lexington, désormais prolongé jusqu’au 3 octobre 2025, et le prêt Rego Park II de 200,6 millions échéant le 12 décembre 2025, tous deux à taux variable SOFR plus marge. Les charges d’intérêts ont bénéficié de l’amortissement du capital et de soldes réduits.

Opérations : Le taux d’occupation commercial est de 94,8 % (résidentiel 98,7 %). Bloomberg, dont le contrat a été récemment prolongé jusqu’en 2040, représente 61 % des revenus locatifs, soulignant un risque important de concentration locataire. La direction continue de commercialiser le site vacant de Rego Park I à la vente ou à la réhabilitation. Aucun litige important n’est en cours ; une couverture d’assurance contre le terrorisme jusqu’� 1,7 milliard de dollars reste en place.

Highlights des 10-Q von Alexander’s Inc. (ALX) für Q2-25: Die Mieteinnahmen sanken im Jahresvergleich um 3,4 % auf 51,6 Mio. USD, da der Mietvertrag von Home Depot über 83.000 Quadratfuß am 731 Lexington im Januar 2025 ausgelaufen ist und IKEA im 4. Quartal 2023 Rego Park I geräumt hat. Der Nettogewinn fiel um 27 % auf 6,1 Mio. USD (1,19 USD je Aktie) und der FFO sank um 13 % auf 14,8 Mio. USD (2,88 USD je Aktie). Die Halbjahreszahlen zeigen einen Rückgang der Mieteinnahmen um 7,2 % auf 106,5 Mio. USD und einen Rückgang des Nettogewinns um 24,7 % auf 18,4 Mio. USD, während Dividenden von 9,00 USD je Aktie 46,2 Mio. USD verbrauchten � deutlich mehr als die bisherigen Gewinne.

Bilanz & Liquidität: Bar- und gebundenes Bargeld bleiben mit 390,3 Mio. USD stark; der operative Cashflow von 59,3 Mio. USD deckte Investitionsausgaben (14,6 Mio. USD) und die meisten Dividenden ab. Das Eigenkapital sank auf 145,4 Mio. USD (-18 %), hauptsächlich aufgrund von Ausschüttungen und OCI-Verlusten aus Zinssicherungsgeschäften. Die Hypotheken belaufen sich auf 987,6 Mio. USD; wichtige Fälligkeiten sind das 300-Mio.-USD-Einzelhandelsdarlehen für 731 Lexington, das nun bis zum 3. Oktober 2025 verlängert wurde, und das 200,6-Mio.-USD-Darlehen für Rego Park II mit Fälligkeit am 12. Dezember 2025, beide mit variablen SOFR-Zinssätzen plus Spreads. Die Zinsaufwendungen profitierten von Kapitalamortisation und niedrigeren Salden.

ұäڳٲäپ𾱳: Die gewerbliche Belegung liegt bei 94,8 % (Wohnimmobilien bei 98,7 %). Bloomberg, dessen Vertrag kürzlich bis 2040 verlängert wurde, macht 61 % der Mieteinnahmen aus, was ein erhebliches Konzentrationsrisiko bei den Mietern darstellt. Das Management vermarktet weiterhin das leerstehende Grundstück Rego Park I zum Verkauf oder zur Neuentwicklung. Es gibt keine wesentlichen Rechtsstreitigkeiten; eine Terrorismusversicherung mit einer Deckungssumme von bis zu 1,7 Mrd. USD ist weiterhin vorhanden.

Positive
  • Robust liquidity: $390.3 m cash and restricted cash, with operating cash flow of $59.3 m in H1-25.
  • High occupancy: Commercial 94.8%, residential 98.7% across prime NYC properties.
  • Bloomberg lease extended to 2040, securing ~61% of rent for 15 years.
  • Interest expense down 21% YoY in Q2 due to lower cap amortization and debt balances.
Negative
  • Net income fell 27% YoY to $6.1 m; EPS down to $1.19.
  • Home Depot lease expiration removes ~$15 m annual rent with no replacement yet.
  • Tenant concentration: Bloomberg accounts for 61% of rental revenue.
  • Large near-term debt maturities: $300 m loan due Oct-25; $200.6 m loan due Dec-25, both floating-rate.
  • Dividends exceed earnings: $46.2 m paid vs $18.4 m YTD income, eroding equity.

Insights

TL;DR � Earnings down, payout high, upcoming loan maturities raise near-term risk.

ALX’s YoY revenue and EPS declines stem from two large tenant move-outs, with no immediate replacement for the $15 m Home Depot rent. Dividend coverage from NOI is thinning: YTD payout ratio to FFO is ~130%. Liquidity (>$390 m cash) provides buffer, yet $501 m of floating-rate debt matures within 18 months; refinancing cost will hinge on SOFR levels. Bloomberg lease extension secures >60% of revenue for 15 years but elevates concentration. Equity base shrank 18%, limiting borrowing headroom. Overall risk-reward has tilted negative despite strong asset locations.

TL;DR � Prime NYC assets, high occupancy and large cash war-chest temper earnings dip.

The portfolio’s 2.46 m sf averages 95% leased and generates stable variable rent; Bloomberg renewal through 2040 eliminates major mid-term rollover. Cash on hand equals 40% of equity and can bridge funding of 2025 mortgage balloon payments if markets stay tight. Repositioning Rego Park I offers optionality for value creation. While single-tenant reliance and floating-rate exposure merit caution, asset quality and conservative leverage (59% LTV on book values) support a neutral outlook.

Punti salienti del 10-Q del Q2-25 di Alexander’s Inc. (ALX): I ricavi da locazione sono diminuiti del 3,4% su base annua, attestandosi a 51,6 milioni di dollari, a causa della scadenza nel gennaio 2025 del contratto di locazione di Home Depot per 83.000 piedi quadrati al 731 Lexington e dell’abbandono di IKEA a Rego Park I nel quarto trimestre 2023. L’utile netto è calato del 27% a 6,1 milioni di dollari (1,19 dollari per azione) e il FFO è sceso del 13% a 14,8 milioni di dollari (2,88 dollari per azione). Nei primi sei mesi, i ricavi da locazione sono diminuiti del 7,2% a 106,5 milioni di dollari e l’utile netto del 24,7% a 18,4 milioni di dollari, mentre i dividendi per azione di 9,00 dollari hanno assorbito 46,2 milioni di dollari, ben oltre gli utili accumulati nell’anno.

Bilancio e liquidità: La liquidità e la liquidità vincolata rimangono solide a 390,3 milioni di dollari; il flusso di cassa operativo di 59,3 milioni di dollari ha coperto le spese in conto capitale (14,6 milioni di dollari) e la maggior parte dei dividendi. Il patrimonio netto è sceso a 145,4 milioni di dollari (-18%), principalmente a causa delle distribuzioni e delle perdite OCI sugli strumenti di copertura dei tassi di interesse. I mutui ammontano a 987,6 milioni di dollari; le scadenze principali includono il prestito retail da 300 milioni di dollari per il 731 Lexington, ora esteso fino al 3 ottobre 2025, e il prestito Rego Park II da 200,6 milioni di dollari in scadenza il 12 dicembre 2025, entrambi a tasso variabile SOFR più spread. Le spese per interessi hanno beneficiato dell’ammortamento del capitale e di saldi ridotti.

Operazioni: L’occupazione commerciale è al 94,8% (residenziale al 98,7%). Bloomberg, con contratto recentemente esteso fino al 2040, rappresenta il 61% dei ricavi da locazione, evidenziando un significativo rischio di concentrazione degli inquilini. La direzione continua a promuovere la vendita o la riqualificazione del sito vacante di Rego Park I. Non vi sono contenziosi rilevanti; rimane in vigore una copertura assicurativa fino a 1,7 miliardi di dollari per il terrorismo.

Aspectos destacados del 10-Q del 2T-25 de Alexander’s Inc. (ALX): Los ingresos por alquiler disminuyeron un 3,4% interanual hasta 51,6 millones de dólares, debido a que el contrato de arrendamiento de Home Depot de 83.000 pies cuadrados en 731 Lexington expiró en enero de 2025 y IKEA desocupó Rego Park I en el cuarto trimestre de 2023. La utilidad neta cayó un 27% hasta 6,1 millones de dólares (1,19 dólares por acción) y el FFO bajó un 13% hasta 14,8 millones de dólares (2,88 dólares por acción). En los primeros seis meses, los ingresos por alquiler descendieron un 7,2% hasta 106,5 millones de dólares y la utilidad neta un 24,7% hasta 18,4 millones de dólares, mientras que los dividendos de 9,00 dólares por acción consumieron 46,2 millones de dólares, muy por encima de las ganancias acumuladas en el año.

Balance y efectivo: El efectivo y efectivo restringido se mantienen sólidos en 390,3 millones de dólares; el flujo de caja operativo de 59,3 millones cubrió gastos de capital (14,6 millones) y la mayoría de los dividendos. El patrimonio neto disminuyó a 145,4 millones (-18%), principalmente por distribuciones y pérdidas OCI en coberturas de tasas de interés. Las hipotecas suman 987,6 millones; vencimientos clave incluyen el préstamo minorista de 300 millones para 731 Lexington, ahora extendido hasta el 3 de octubre de 2025, y el préstamo de Rego Park II de 200,6 millones con vencimiento el 12 de diciembre de 2025, ambos a tasa variable SOFR más spread. Los gastos por intereses se beneficiaron de la amortización del capital y saldos menores.

Operaciones: La ocupación comercial es del 94,8% (residencial 98,7%). Bloomberg, recientemente extendido hasta 2040, representa el 61% de los ingresos por alquiler, lo que resalta un riesgo significativo de concentración de inquilinos. La gerencia continúa promoviendo la venta o el desarrollo del sitio vacante de Rego Park I. No hay litigios materiales; sigue vigente una cobertura de seguro de hasta 1,7 mil millones para terrorismo.

Alexander’s Inc. (ALX) 2025� 2분기 10-Q 주요 내용: 홈디포가 2025� 1� 만료� 731 렉싱� 83,000평방피트 임대와 IKEA가 2023� 4분기� 비워� Rego Park I으로 인해 임대 수익� 전년 대� 3.4% 감소� 5,160� 달러� 기록했습니다. 순이익은 27% 감소� 610� 달러(주당 1.19달러), FFO� 13% 감소� 1,480� 달러(주당 2.88달러)� 기록했습니다. 6개월 누계 수치� 임대 수익� 7.2% 감소� 1� 650� 달러, 순이익은 24.7% 감소� 1,840� 달러이며, 주당 9.00달러� 배당� 지급으� 4,620� 달러가 소요되어 연간 수익� 크게 상회했습니다.

대차대조표 � 현금: 현금 � 제한 현금은 3� 9,030� 달러� 견조하며, 영업 현금 흐름 5,930� 달러� 자본� 지�(1,460� 달러)� 대부분의 배당금을 충당했습니다. 자본은 분배금과 이자� 헤지 관� OCI 손실� 인해 1� 4,540� 달러(-18%)� 감소했습니다. 담보 대� 총액은 9� 8,760� 달러이며, 주요 만기� 731 렉싱� 소매 대� 3� 달러� 2025� 10� 3일까지 연장되었�, 2025� 12� 12� 만기� Rego Park II 대� 2� 60� 달러�, � 대� 모두 SOFR+ 스프레드 변� 금리입니�. 이자 비용은 원금 상환 � 잔액 감소� 혜택� 받았습니�.

운영: 상업� 점유율은 94.8%(주거� 98.7%)입니�. 2040년까지 연장� Bloomberg가 임대 수익� 61%� 차지하여 임차� 집중 위험� 큽니�. 경영진은 비어 있는 Rego Park I 부지� 매각 또는 재개발을 계속 추진하고 있습니다. 중대� 소송은 없으�, 테러리즘� 대� 최대 17� 달러� 보험 보장은 유지되고 있습니다.

Points clés du 10-Q du T2-25 d’Alexander’s Inc. (ALX) : Les revenus locatifs ont diminué de 3,4 % en glissement annuel à 51,6 millions de dollars, en raison de l’expiration en janvier 2025 du bail de Home Depot de 83 000 pieds carrés au 731 Lexington et du départ d’IKEA de Rego Park I au 4e trimestre 2023. Le bénéfice net a chuté de 27 % à 6,1 millions de dollars (1,19 $/action) et le FFO a diminué de 13 % à 14,8 millions de dollars (2,88 $/action). Sur six mois, les revenus locatifs ont baissé de 7,2 % à 106,5 millions de dollars et le bénéfice net de 24,7 % à 18,4 millions de dollars, tandis que les dividendes de 9,00 $/action ont absorbé 46,2 millions de dollars, bien au-delà des bénéfices cumulés.

Bilan et trésorerie : La trésorerie et les liquidités restreintes restent solides à 390,3 millions de dollars ; le flux de trésorerie d’exploitation de 59,3 millions a couvert les dépenses d’investissement (14,6 millions) et la majorité des dividendes. Les capitaux propres ont diminué à 145,4 millions (-18 %), principalement en raison des distributions et des pertes OCI liées aux couvertures de taux d’intérêt. Les hypothèques totalisent 987,6 millions ; les échéances clés comprennent le prêt commercial de 300 millions pour le 731 Lexington, désormais prolongé jusqu’au 3 octobre 2025, et le prêt Rego Park II de 200,6 millions échéant le 12 décembre 2025, tous deux à taux variable SOFR plus marge. Les charges d’intérêts ont bénéficié de l’amortissement du capital et de soldes réduits.

Opérations : Le taux d’occupation commercial est de 94,8 % (résidentiel 98,7 %). Bloomberg, dont le contrat a été récemment prolongé jusqu’en 2040, représente 61 % des revenus locatifs, soulignant un risque important de concentration locataire. La direction continue de commercialiser le site vacant de Rego Park I à la vente ou à la réhabilitation. Aucun litige important n’est en cours ; une couverture d’assurance contre le terrorisme jusqu’� 1,7 milliard de dollars reste en place.

Highlights des 10-Q von Alexander’s Inc. (ALX) für Q2-25: Die Mieteinnahmen sanken im Jahresvergleich um 3,4 % auf 51,6 Mio. USD, da der Mietvertrag von Home Depot über 83.000 Quadratfuß am 731 Lexington im Januar 2025 ausgelaufen ist und IKEA im 4. Quartal 2023 Rego Park I geräumt hat. Der Nettogewinn fiel um 27 % auf 6,1 Mio. USD (1,19 USD je Aktie) und der FFO sank um 13 % auf 14,8 Mio. USD (2,88 USD je Aktie). Die Halbjahreszahlen zeigen einen Rückgang der Mieteinnahmen um 7,2 % auf 106,5 Mio. USD und einen Rückgang des Nettogewinns um 24,7 % auf 18,4 Mio. USD, während Dividenden von 9,00 USD je Aktie 46,2 Mio. USD verbrauchten � deutlich mehr als die bisherigen Gewinne.

Bilanz & Liquidität: Bar- und gebundenes Bargeld bleiben mit 390,3 Mio. USD stark; der operative Cashflow von 59,3 Mio. USD deckte Investitionsausgaben (14,6 Mio. USD) und die meisten Dividenden ab. Das Eigenkapital sank auf 145,4 Mio. USD (-18 %), hauptsächlich aufgrund von Ausschüttungen und OCI-Verlusten aus Zinssicherungsgeschäften. Die Hypotheken belaufen sich auf 987,6 Mio. USD; wichtige Fälligkeiten sind das 300-Mio.-USD-Einzelhandelsdarlehen für 731 Lexington, das nun bis zum 3. Oktober 2025 verlängert wurde, und das 200,6-Mio.-USD-Darlehen für Rego Park II mit Fälligkeit am 12. Dezember 2025, beide mit variablen SOFR-Zinssätzen plus Spreads. Die Zinsaufwendungen profitierten von Kapitalamortisation und niedrigeren Salden.

ұäڳٲäپ𾱳: Die gewerbliche Belegung liegt bei 94,8 % (Wohnimmobilien bei 98,7 %). Bloomberg, dessen Vertrag kürzlich bis 2040 verlängert wurde, macht 61 % der Mieteinnahmen aus, was ein erhebliches Konzentrationsrisiko bei den Mietern darstellt. Das Management vermarktet weiterhin das leerstehende Grundstück Rego Park I zum Verkauf oder zur Neuentwicklung. Es gibt keine wesentlichen Rechtsstreitigkeiten; eine Terrorismusversicherung mit einer Deckungssumme von bis zu 1,7 Mrd. USD ist weiterhin vorhanden.

FALSE000168954800016895482025-08-042025-08-04

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 4, 2025

PRAXIS PRECISION MEDICINES, INC.
(Exact name of registrant as specified in its charter)
 
 
Delaware
001-39620
47-5195942
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)

Praxis Precision Medicines, Inc.
99 High Street, 30th Floor
Boston, Massachusetts 02110
(Address of principal executive offices, including zip code)
(617) 300-8460
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class 
Trade
Symbol(s)
 
Name of each exchange
on which registered
Common Stock, $0.0001 par value per share PRAX The Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company  
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐
 
 

Item 2.02. Results of Operations and Financial Condition.
On August 4, 2025, Praxis Precision Medicines, Inc. (the “Company”) announced its financial results for the quarter ended June 30, 2025. A copy of the press release containing these announcements is furnished as Exhibit 99.1 to this Current Report on Form 8-K (the “Current Report”).
Item. 7.01. Regulation FD Disclosure.
On August 4, 2025, the Company published a corporate presentation announcing topline results from its RADIANT study. The presentation is available in the “Investors + Media” portion of the Company's website at investors.praxismedicines.com and a copy is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
The information in Items 2.02 and 7.01 of this Form 8-K and Exhibit 99.1 and Exhibit 99.2 attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall any of it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 8.01. Other Events.
On August 4, 2025, the Company announced topline results from the RADIANT study evaluating vormatrigine in patients with focal onset seizures (n=37). Dosing with vormatrigine over eight weeks led to 56.3% median reduction in seizure frequency from baseline, with approximately 22% of patients reaching 100% reduction in seizure frequency in the last 28 days. Patients observed a rapid and sustained response, with approximately 60% of patients achieving 50% response in the study. Vormatrigine was generally well-tolerated and continues to demonstrate a favorable safety profile.
The Company will present additional data from the RADIANT study at the 36th International Epilepsy Congress on August 31, 2025 in Lisbon, Portugal. The Company also submitted a late-breaker abstract to present the full RADIANT study results at the American Epilepsy Society Annual Meeting in December 2025 in Atlanta, Georgia.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the clinical development of vormatrigine and our participation in upcoming events and presentations. The forward-looking statements included in this Current Report on Form 8-K are subject to a number of risks, uncertainties and assumptions, including, without limitation, uncertainties inherent in clinical trials, the expected timing of submission for regulatory approval or review by governmental authorities and other risks as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and as updated in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2025, as well as its other filings with the Securities and Exchange Commission. These statements are based only on facts currently known by the Company and speak only as of the date of this Current Report on Form 8-K. As a result, you are cautioned not to rely on these forward-looking statements and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
 
Exhibit
No.
  Description
99.1
  
Press Release, dated August 4, 2025
99.2
RADIANT Corporate Presentation
104Cover Page Interactive Data File (embedded within the inline XBRL document)





SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
PRAXIS PRECISION MEDICINES, INC.
Date: August 4, 2025
By:/s/ Marcio Souza
Marcio Souza
Chief Executive Officer

FAQ

How did Alexander’s (ALX) Q2 2025 earnings compare to last year?

Net income fell to $6.1 m from $8.4 m, a 27% decline; EPS dropped to $1.19 from $1.63.

Why did rental revenue decline for ALX in Q2 2025?

The main driver was Home Depot’s 83 k sf lease expiry at 731 Lexington, removing about $15 m of annual rent.

What is ALX’s exposure to upcoming debt maturities?

Two SOFR-based mortgages�$300 m (due 3 Oct 25) and $200.6 m (due 12 Dec 25)—represent about half of total debt.

How significant is Bloomberg to Alexander’s revenue base?

Bloomberg contributed $64.4 m in H1-25, roughly 61% of rental income, with leases now extended to 2040.

Is the quarterly dividend at risk?

ALX paid $4.50/sh quarterly despite earnings of $1.19/sh; liquidity is ample, but payout ratio exceeds 100% of FFO.

What are management’s plans for the vacant Rego Park I property?

After Burlington and Marshalls relocate in 2025, ALX is exploring sale or redevelopment options for Rego Park I.
Praxis Precision Medicines, Inc.

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Biotechnology
Pharmaceutical Preparations
United States
BOSTON