Stock Market Update

[BRIEFING.COM] The major averages continue a slow trudge through modestly negative territory in the waning moments of today's session. 

Praxis Precision Medicines (PRAX 301.72, +32.77, +12.18%) is soaring to fresh multi-year highs after announcing this morning that the FDA granted Breakthrough Therapy Designation (BTD) for ulixacaltamide HCl in essential tremor (ET). The designation adds another catalyst to what has already been a remarkable run since October: shares were trading in the low to mid $50s in early October and are now above $300.