Jazz Dives — But Key Rival Praxis Surges — On Essential Tremor Drug Failure.

Jazz Pharmaceuticals' stock experienced a decline after its essential tremor drug, suvecaltamide, failed in midstage testing. The company attributed the failure to an unexpectedly strong response from the placebo group. In contrast, shares of rival Praxis Precision Medicines surged, despite initially being impacted by the news. Praxis is developing a different treatment for essential tremor called ulixacaltamide, which targets the same channel as Jazz's drug. The future of suvecaltamide will be determined based on its performance as a treatment for tremor due to Parkinson's disease. [Extracted from the article]