Today, a brief rundown of news from Praxis Precision Medicines, Rezolute and Geron, as well as updates from Rhythm Pharmaceuticals and Centessa Pharmaceuticals that you may have missed.

Praxis Precision Medicines on Thursday announced plans to, sometime early next year, submit an experimental seizure drug for U.S. approval. Researchers have been evaluating the drug, known scientifically as relutrigine, as a potential treatment for a group of rare epilepsies that cause severe seizures and developmental delays. Praxis said it decided to file following “collaborative discussions” with the Food and Drug Administration during a recent meeting. Shares of the company, which rocketed this year thanks to positive updates for a different pipeline program, rose another 2% Thursday, to close just north of $267 apiece. — Jacob Bell

Rezolute said on Thursday that its drug ersodetug failed a Phase 3 trial in a rare, genetic condition causing dangerously low blood sugar levels. When compared to a placebo, the therapy didn’t significantly reduce the average number of times, per week, that patients’ blood sugar dipped below a certain threshold. Ersodetug missed a key secondary study objective, too. In a statement, Rezolute Chief Medical Officer Brian Roberts said there were “aspects of the results that merit additional investigation,” and that the outcome of that query will “inform our path forward.” Still, Rezolute’s share price plunged by nearly 90%, and Xoma Royalty, which holds royalty rights to resodetug, saw a double-digit sell-off in shares as well. — Ben Fidler

Geron will lay off about a third of its 260-employee workforce in a strategic restructuring, the company said Thursday. Last June, Geron won its first drug approval when Rytelo was cleared for use treating myelodysplastic syndromes. But sales have stagnated in 2025, disappointing investors and depressing the company’s share price. Geron swapped CEOs in August, and its new leader Harout Semerjian said that, following a business review, cost cutting is “in the spirit of prudent fiscal management.” The cuts will leave Geron with lower projected operating expenses in 2026 than in 2025. — Ben Fidler

Rhythm Pharmaceuticals will advance its drug setmelanotide into a late-stage trial in Prader-Willi syndrome following encouraging early results in a small Phase 2 study. According to Rhythm, setmelanotide, which it sells as Imcivree for genetically driven forms of obesity, showed signs of reducing hunger cravings and helping lower patients' body mass index values in the study. While the tiny trial has notable caveats, the data were “favorable and supportive” of advancement into late-stage testing in Prader-Willi, wrote Stifel analyst Paul Matteis. Rhythm shares climbed 12% on Thursday and, at more than $117 apiece, have nearly doubled in value this year. — Ben Fidler

Centessa Pharmaceuticals is getting a new top executive, announcing Thursday that current CEO and board member Saurabh Saha, who is stepping down from those positions Jan. 1, will be replaced by Mario Alberto Accardi. In a statement, board chair Francesco De Rubertis said the transition “underscores Centessa’s strategic evolution” from a startup with a diverse range of early-stage drug programs, to a company purely focused on advancing “orexin” therapies. Orexins are a class of proteins that help control sleepiness, and a target Wall Street has come to see as a multibillion-dollar opportunity. Centessa is currently racing with developers like Takeda Pharmaceutical and Alkermes to bring orexin-targeting drugs for narcolepsy to the market. At Centessa, Accardi has been serving as president and founder of the company’s orexin program. — Jacob Bell