U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB


(Mark One)
[X]            QUARTERLY REPORT PURSUANT SECTION 13 OR 15(D) OF THE
                       SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended: August 31, 2000

[ ]            TRANSITION REPORT PURSUANT SECTION 13 OF 15(D) OF THE
                       SECURITIES EXCHANGE ACT OF 1934
         For the transition period from ________________ to ________________

                         Commission file number 0-28627

                          PRAXIS PHARMACEUTICALS, INC.
        (Exact name of small business issuer as specified in its charter)

               UTAH                                 87-0393257
  (State or other jurisdiction of                 (IRS Employer
   incorporation or organization)               Identification No.)


    595 HORNBY STREET, SUITE 600, VANCOUVER, BRITISH COLUMBIA, V6C 1A4 CANADA
                    (Address of principal executive offices)

                                 (604) 646-5614
                           (Issuer's telephone number)

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                          if changed since last report)

         Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days. Yes X No

         State the number of shares outstanding of each of the issuer's classes
of common equity, as of the last practicable date:

            11,822,209 SHARES OF COMMON STOCK, $.001 PAR VALUE, AS OF
                                 AUGUST 31, 2000

  Transitional Small Business Disclosure Format (check one);  Yes       No   X
                                                                 -----    -----


<PAGE>
                                            PRAXIS PHARMACEUTICALS INC.
                                           (A DEVELOPMENT STATE COMPANY)

                                            CONSOLIDATED BALANCE SHEET

                                                  AUGUST 31, 2000

                                            (EXPRESSED IN U.S. DOLLARS)

<TABLE>
<CAPTION>
ASSETS                                                                                     2000
                                                                                           ----
<S>                                                                                    <C>

CURRENT
CASH (NOTE 3)                                                                            $161,171
INVESTMENTS                                                                                     2
                                                                                        ---------
                                                                                         $161,173
                                                                                        =========
LIABILITIES
CURRENT
ACCOUNTS PAYABLE                                                                         $ 59,811
OWING TO RELATED PARTIES                                                                   16,426
                                                                                           ------
                                                                                           76,237
                                                                                           ------
STOCKHOLDERS' EQUITY
SHARE CAPITAL
AUTHORIZED
   50,000,000 COMMON SHARES WITH A PAR VALUE
              OF $.001 PER SHARE
    10,000,000 PREFERRED SHARES WITH A PAR VALUE
              OF $.001 PER SHARE
    ISSUED AND PAID IN CAPITAL (NOTE 2)
    11,822,209 COMMON SHARES                                                              862,140
    SHARE SUBSCRIPTIONS                                                                   220,500
DEFICIT ACCUMULATED DURING THE
  DEVELOPMENT STAGE                                                                      (996,427)
DEFERRED TRANSLATION ADJUSTMENT (NOTE 1)                                                   (1,277)
                                                                                        ----------
TOTAL STOCKHOLDERS' EQUITY                                                                 84,936
                                                                                        ----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                               $161,173
                                                                                        ==========
APPROVED BY THE DIRECTORS

         "DAVID STADNYK"
----------------------------------

         "BRETT CHARLTON"
----------------------------------
</TABLE>

                                    UNAUDITED
        The accompanying notes are an integral part of these consolidated
                              financial statements

                                       2

<PAGE>



                           PRAXIS PHARMACEUTICALS INC.
                          (A DEVELOPMENT STATE COMPANY)

            INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT

               FOR THE THREE MONTHS ENDED AUGUST 31, 2000 AND 1999
            AND CUMULATIVE FROM JUNE 20, 1997 (DATE OF INCORPORATION)
                               TO AUGUST 31, 2000

                           (EXPRESSED IN U.S. DOLLARS)

<TABLE>
<CAPTION>
                                                     CUMULATIVE TO                   THREE MONTHS ENDED AUGUST 31,
                                                    AUGUST 31, 2000                   2000               1999
                                                                               -----------------------------------
<S>                                                 <C>                        <C>                  <C>

PROJECT EXPENSES
RESEARCH AGREEMENT AMENDMENT                        $      45,000              $           -        $          -
RESEARCH ADVANCES                                         229,076                          -              22,352
PATENT COSTS                                                2,820                          -                   -
RECOVERED COSTS
     CASH                                                (135,594)                         -             (19,965)
     INVESTMENT CONSIDERATION                             (26,000)                         -                   -
RELATED PARTY CONSULTING FEES                              65,538                          -                   -
                                                    --------------             ---------------      -------------
                                                          180,840                          -               2,387
                                                    --------------             ---------------      -------------
ADMINISTRATION EXPENSES
BANK CHARGES AND EXCHANGE                                   4,787                      1,432               1,967
CONSULTING                                                257,858                          -              10,414
FINDERS FEES                                                7,500                          -                   -
INTEREST ON CONVERTIBLE DEBENTURES                         16,667                          -                   -
OFFICE AND SECRETARIAL                                     30,624                      4,584               5,886
PROFESSIONAL FEES                                          95,700                      8,272              10,042
PROMOTION AND TRAVEL                                      197,645                     19,435              28,643
RELATED PARTY ADMINISTRATION
CHARGES                                                    52,808                      3,994              33,316
                                                    --------------             ---------------      -------------
                                                          663,589                     37,717              90,268
                                                    --------------             ---------------      -------------
LOSS FROM OPERATIONS                                      844,429                     37,717              92,655
EQUITY SHARE IN LOSS OF INVESTEES                          26,998                          -                   -
                                                    --------------             ---------------      -------------
NET LOSS FOR THE PERIOD                                   871,427                     37,717              92,665
DEFICIT BEGINNING OF THE PERIOD                                 -                    958,710             728,537
REORGANIZATION COSTS                                      125,000                          -                   -
                                                    --------------             ---------------      -------------
DEFICIT END OF THE PERIOD                           $     996,427              $     996,427        $    821,192
                                                    ==============             ===============      =============
BASIC LOSS PER SHARE                                                           $        0.01        $       0.01
                                                                               ===============      =============
</TABLE>


                                    UNAUDITED
              The accompanying notes are an integral part of these
                       consolidated financial statements

                                       3

<PAGE>



                           PRAXIS PHARMACEUTICALS INC.
                          (A DEVELOPMENT STATE COMPANY)

                  INTERIM CONSOLIDATED STATEMENTS OF CASH FLOW

               FOR THE THREE MONTHS ENDED AUGUST 31, 2000 AND 1999
            AND CUMULATIVE FROM JUNE 20, 1997 (DATE OF INCORPORATION)
                               TO AUGUST 31, 2000

                           (EXPRESSED IN U.S. DOLLARS)
<TABLE>
<CAPTION>
                                                     CUMULATIVE TO                   THREE MONTHS ENDED AUGUST 31,
                                                    AUGUST 31, 2000                   2000               1999
                                                                               -----------------------------------
<S>                                                 <C>                        <C>                  <C>

CASH PROVIDED (USED) BY
   OPERATING ACTIVITIES
     NET LOSS FOR THE PERIOD                        $    (871,427)             $    (37,717)        $   (92,655)
     NON-CASH ITEMS
       INVESTMENT CONSIDERATION FOR
         RECOVERED COSTS                                  (26,000)                        -                   -
     ISSUE OF SHARES FOR
         SERVICES                                         237,208                         -                   -
         RESEARCH AGREEMENT                                45,000                         -                   -
     INTEREST ON CONVERTIBLE
     DEBENTURES                                            16,667                         -                   -
     EQUITY SHARE IN LOSS OF
         INVESTEES                                         26,998                         -                   -
     CHANGE IN NON-CASH OPERATING
         ITEMS
         OTHER RECEIVABLE                                       -                    48,748                   -
         ACCOUNTS PAYABLE                                  59,811                     9,293              26,087
                                                    ---------------            --------------       ------------
                                                         (511,743)                   20,324             (66,568)
                                                    ---------------            --------------       ------------
   INVESTING ACTIVITIES
     INVESTMENT IN EQUITY AFFILIATE                        (1,000)                        -                   -
                                                    ---------------            --------------       ------------
   FINANCING ACTIVITIES
     OWING TO RELATED PARTIES                              16,426                   (55,000)                  -
     SHARE CAPITAL ISSUED
         FOR CASH                                         482,725                         -              30,000
         FOR CONVERSION OF
           DEBENTURES                                      50,000                         -                   -
     SHARE SUBSCRIPTIONS                                  220,500                         -             (30,000)
     REORGANIZATION COSTS                                 (94,460)                        -                   -
                                                    ---------------            --------------       ------------
                                                          675,191                   (55,000)                  -
                                                    ---------------            --------------       ------------
   TRANSLATION ADJUSTMENT                                  (1,277)                   (1,277)                  -
                                                    ---------------            --------------       ------------
CHANGE IN CASH FOR THE PERIOD                             161,171                   (35,953)            (66,568)
CASH BEGINNING OF THE PERIOD                                    -                   197,124             103,513
                                                    ---------------            --------------       ------------
CASH END OF THE PERIOD                              $     161,171              $    161,171         $    36,945
                                                    ===============            ===============      ============
</TABLE>


                                    UNAUDITED
              The accompanying notes are an integral part of these
                        consolidated financial statements

                                       4

<PAGE>



                           PRAXIS PHARMACEUTICALS INC.
                          (A DEVELOPMENT STATE COMPANY)

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

                                 AUGUST 31, 2000


1.    ACCOUNTING POLICES AND NOTES

      a.  The  accounting  policies  followed by the Company are unchanged  from
          those outlined in the audited  consolidated  financial  statements for
          the year ended May 31, 2000. The notes to the  consolidated  financial
          statements  at  May  31,  2000  substantially  apply  to  the  interim
          consolidated  financial  statements  at  August  31,  2000 and are not
          repeated here. All adjustments have been made which, in the opinion of
          management,  are necessary in order to make these financial statements
          not misleading.

      b.  These  consolidated  financial  statements  include the amounts of the
          Company and its wholly-  owned  subsidiaries,  Praxis  Pharmaceuticals
          International Pty. Limited, a private company registered in Australia,
          and Praxis Pharmaceuticals Inc., a Nevada corporation.

      c.  Foreign Currency Translation

          The  functional  currency of the Company's  foreign  operations is the
          applicable local currency.  The translation of foreign currencies into
          U.S.  dollars is performed  for balance sheet  accounts  using current
          exchange rates in effect at the balance sheet date and for revenue and
          expense  accounts  using average  exchange rates during each reporting
          period. The gains or losses, net of applicable  deferred income taxes,
          resulting from such translations are included in stockholders'  equity
          as a component of " Deferred Translation Adjustment". Gains and losses
          arising  from  foreign  currency  transactions  are  reflected  in the
          consolidated statements of earnings as incurred.


2.    SHARE CAPITAL

      Issued and paid in capital


<TABLE>
<CAPTION>
                                                                      SHARES           CONSIDERATION
<S>                                                               <C>                  <C>
         Common shares
         Balance at May 31, 2000 and August 31, 2000               11,822,209          $    862,140
                                                                   ==========          =============
</TABLE>




                                    UNAUDITED

                                       5
<PAGE>


                           PRAXIS PHARMACEUTICALS INC.
                          (A DEVELOPMENT STAGE COMPANY)

                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

                                 AUGUST 31, 2000


3.    SEGMENTED INFORMATION

      a.  Cash

          The  Company  maintains  its  cash  balance  in  U.S.,   Canadian  and
          Australian currencies.  At the period end, the U.S. dollar equivalents
          were as follows.


          U.S. dollars                                               $20,311
          Australian dollars                                         140,859
          Canadian dollars                                                 1
                                                                ------------
                                                                    $161,171
                                                                ============

      b.  Geographic Segments

          The Company's  activities  are all in the one industry  segment of the
          research and development of pharmaceutical  products. The research and
          development is carried out in Australia.


                                   UNAUDITED

                                       6

<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The following  discussion  of the financial  condition and results of operations
for Praxis Pharmaceuticals,  Inc. ("Praxis" or the "Company")) should be read in
conjunction with the accompanying financial statements and related footnotes.

GENERAL

The Company's  business is the  development and  commercialization  of drugs and
nutraceuticals  designed to prevent  inflammation  and their  sequelae,  and the
development of cosmetics for skin conditions.  To date, Praxis has not generated
any revenues from product sales,  royalties or license fees. Effective September
30,  1999,   Praxis  granted  a  worldwide,   exclusive   license  to  Fairchild
International Inc. ("Fairchild"),  an affiliate,  for all products and processes
developed,  and to be developed,  relating to arthritis and dermal wrinkles,  in
consideration for 2,600,000 shares of Fairchild common stock (valued at $26,000)
and royalty  payments  based upon revenues  earned by Fairchild from the sale of
any developed products.  In addition,  a research and development  agreement was
entered into whereby Praxis was  contracted to conduct a research  program to be
funded by Fairchild for a total amount of $250,000.  (This agreement,  including
"Schedule  C",  has been  filed as Exhibit  10.1 to the  Company's  registration
statement on Form 10-SB.) A first  installment of $62,500 was paid on October 1,
1999.  Quarterly  payments of $50,000 are to be made beginning  January 1, 2000,
with a final  payment of $37,500  due  October 1, 2000.  The January 1, 2000 and
April 1, 2000  installments have been paid. The receipt of the remaining $87,500
from Fairchild is not certain.  Fairchild's financial condition is questionable.
The independent  auditors'  report on Fairchild's  financial  statements for the
year ended December 31, 1999 included an explanatory  paragraph  relating to the
uncertainty  of Fairchild's  ability to continue as a going  concern.  The funds
paid by  Fairchild  to Praxis can only be used by Praxis for the  conduct of the
research  projects  and can only be  expended  in  accordance  with  the  budget
included  as  part  of  "Schedule  C",  unless  Praxis   obtains  prior  written
authorization  from  Fairchild.  Fairchild  and Praxis will,  not less than once
every three  months,  review and  evaluate  progress on the  research  projects.
Following such reviews,  milestones as set out in "Schedule C" may be revised as
and when needed by mutual agreement between  Fairchild and Praxis.  The research
program is to be fully funded by the funds  received by Fairchild.  The $250,000
budget for the research and  development  program  includes  allowances  for all
associated  overhead  and costs to be  expended  by Praxis  on the  program.  No
administrative  overhead  will be  expended  that is not  covered  by the  funds
received  from  Fairchild in relation to the research  program.  Praxis will not
incur either  directly or  indirectly  any  additional  expenses on the research
program.

Under the exclusive license,  Praxis is to be paid 35% of net revenue,  which is
any  consideration  received by Fairchild from the sale of a licensed product or
the granting of a sublicense,  after deduction of the following:  $250,000 to be
paid by Fairchild plus any other development costs, manufacturing and production
costs,  marketing  and selling  costs,  and  expenses  incurred by  Fairchild in
connection  with  obtaining  regulatory  approvals.  This means that  before any
royalties are paid to Praxis, the following are first returned to Fairchild: (1)
the  $250,000  research  expenditures  and  (2)  any  other  development  costs,
manufacturing  and production  costs,  marketing and selling costs, and expenses
incurred  by  Fairchild  in  connection  with  obtaining  regulatory  approvals.
Further,  there is nothing in the agreement  that would prevent  Fairchild  from
unilaterally  deciding  to continue  to spend  money on  research  and  thereby,
perhaps,  use all monies that would  otherwise  be paid to Praxis as  royalties.
Accordingly,  it is not certain when,  if, or to what extent Praxis will receive
any royalty revenues from this licensing arrangement. Upon the expiration of the
last licensed patent,  which includes any patents arising out of applications to
be  filed in the  future,  Fairchild's  license  shall  become a fully  paid-up,
perpetual license. This date would be no sooner than 2016. The settlement of any
disputes regarding this agreement with Fairchild will be by binding arbitration,
with the arbitrators to be selected by the Company and Fairchild.

In October  1999,  an agreement  was entered into whereby the equity  investment
made in Praxis' subsidiary,  Praxis Pharmaceuticals Australia Pty. Ltd, would be
reduced to 35% through  research and development  funding invested by Rothschild
Bioscience Managers Limited, of Melbourne, Victoria. The Rothschild


                                       7
<PAGE>



investment  is  solely  for  the  purpose  of  research  and  development   into
phosphosugar-based anti-inflammatory agents for registered therapeutic use.

It is expected that the  profitability  and  financial  viability of the Company
will  ultimately  rest with the corporate  alliances it can obtain.  The Company
expects  to incur  significant  operating  losses  over at least the next  three
years. It is likely that these losses may increase in the future as the research
and development and clinical trials continue.  The Company's  profitability will
ultimately  depend upon its ability to reach  development and obtain  regulatory
approval for its products,  and to enter into alliances to develop,  manufacture
and market the  products.  There is no  guarantee  that the Company will ever be
profitable.

Praxis' near-term goals are to raise the funds necessary for the next five years
of company research and development  activities through share offerings and cash
flow derived from sales and or licensing agreements on cosmetic products; invest
in a dedicated  research facility and personnel;  and generate  pre-clinical and
early clinical  results for the lead compounds.  Over the long term, its goal is
to develop  strategic  alliances with  established  pharmaceutical  companies in
order to conduct large scale,  late stage clinical trials and to market approved
therapeutics.

RESULTS OF OPERATIONS

The Company  continues  to incur  losses from  operations.  The net loss for the
three months ended August 31, 2000 was $37,717 as compared to $92,655 during the
comparable  three-month  period  in 1999.  The  decrease  in the net loss is due
primarily to the reduction in the level of the Company's operations.  No project
expenses  were  incurred in the most recent  quarter,  as compared to $22,352 in
research  advances  (offset by $19,965 in  recovered  costs)  during the quarter
ended August 31, 1999. Also,  administration expenses decreased 58% from $90,268
in 1999 to $37,717 in 2000. Related party administration  charges decreased from
$33,316 in 1999 to $3,994 in 2000, as did promotion and travel expenses ($28,643
in 1999 as  compared  to $19,435 in 2000).  There  were no  consulting  expenses
during the most recent quarter, as compared to $10,414 in 1999.

This  most recent loss has increased the deficit accumulated since the inception
of the Company to $996,427.

LIQUIDITY AND CAPITAL RESOURCES

Since inception,  the primary source of funding for Praxis'  operations has been
the private sale of its  securities.  Through  August 31, 2000,  the Company has
sold stock for cash of $703,225.

At August 31, 2000, the Company's  working  capital was $84,934,  as compared to
$123,928 at May 31, 2000.  The decrease in working  capital was due primarily to
the repayment of $55,000 owed to a related party.

Until such time as the Company obtains agreements with third-party  licensees or
partners  to  provide  funding  for  the  Company's   anticipated  research  and
development  activities,  the Company will be dependent  upon  proceeds from the
sale of  securities.  Further,  substantial  funds will be  required  before the
Company is able to generate revenues sufficient to support its operations. There
is no assurance that the Company will be able to obtain such additional funds on
favorable  terms, if at all. The Company's  inability to raise  sufficient funds
could  require  it to  delay,  scale  back or  eliminate  certain  research  and
development programs.

The report of the Company's independent auditors on the financial statements for
the year ended May 31, 2000,  includes an explanatory  paragraph relating to the
uncertainty of the Company's ability to continue as a going concern.  Praxis has
suffered losses from operations,  requires  additional  financing,  and needs to
continue  the  development  of its  products.  Ultimately  the Company  needs to
generate revenues and successfully attain profitable  operations.  These factors
raise  substantial  doubt  about the  Company's  ability to  continue as a going
concern.  There  can  be no  assurance  that  it  will  be  able  to  develop  a
commercially  viable  product.  Even  if the  Company  were  able to  develop  a
commercially  viable  product,  there is no  assurance  that it would be able to
attain profitable operations.


                                       8
<PAGE>

PLAN OF OPERATION

Assuming that Fairchild pays its remaining  installments of $87,500, the Company
currently has cash and cash  commitments  to support the  pre-clinical  research
program into anti-inflammatory drugs and anti-wrinkle compounds for at least the
next 15  months.  Additional  funds  will  be  needed  to  support  any  further
operations  at that time.  In order to  increase  the value of the  intellectual
property to enhance the value of the Company,  further  funding will be required
in the next 12 months  to  increase  the size of the  research  and  development
operations and to conduct clinical trials. Pre-clinical research and development
can be  accomplished  without  an  injection  of  capital  in the next 12 months
assuming receipt of the Fairchild  funds.  Unless extra capital is raised in the
next 12 months  there  will be no change in the number of  employees  or rate of
research  and  development.  There  are no  anticipated  purchases  of  plant or
equipment or sale of same.

The receipt of the Fairchild funds is not certain,  since Fairchild's  financial
condition is  questionable.  The  independent  auditors'  report on  Fairchild's
financial   statements  for  the  year  ended  December  31,  1999  included  an
explanatory  paragraph  relating to the  uncertainty of  Fairchild's  ability to
continue as a going concern.

If  Fairchild   can  obtain  the  capital   necessary  to  fund  the  costs  for
manufacturing,   production,   marketing,   selling,  and  obtaining  regulatory
approvals,  it is possible  that sales of products  for  arthritis  and wrinkles
could commence in one to two years.  This differs from  prescription  drugs, for
which  Praxis  does not expect to be able to realize  revenues  from the sale to
consumers  within the next five years due to  extended  testing  and  regulatory
review.  The  regulatory  requirements  are much less stringent for cosmetic and
nutraceutical  products than for prescription  drugs.  While there is nothing in
the  agreement  that would  prevent  Fairchild  from  unilaterally  deciding  to
continue to spend money on research  and thereby,  perhaps,  use all monies that
would  otherwise  be paid to Praxis  as  royalties,  doing so would not  benefit
Fairchild.  It would be in Fairchild's interest to commence sales of products to
generate revenues.

YEAR 2000 READINESS DISCLOSURE

The Year 2000 issue refers to the  inability  of computer and other  information
technology  systems to properly  process  date and time  information  due to the
programming  of a two digit year rather than a four digit year. The risk is that
a system will  recognize  the digits "00" as 1900 rather than the year 2000,  or
that the system may not recognize "00" as a year at all. As a result,  computers
and embedded  processing systems may be at risk of malfunctioning,  particularly
during the transition from 1999 to 2000.

The Company has  completed  its  assessment of the impact of Year 2000 issues on
its  business  operations.  The Year 2000 issue may  affect the  Company in four
principal  areas  including:  (1) computer  systems such as personal  computers,
operating  systems,   business  software,  and  application  software  including
accounting systems,  technical support software and administration software; (2)
field assets (primarily embedded systems) such as programmable logic controllers
and equipment control panels; (3) other systems such as telephones, photocopiers
and facsimile machines; and (4) third-party suppliers and service providers such
as banks and insurance companies.

To date,  the Company  has  implemented  and tested its  computer  software  and
hardware  for Year 2000  compliance  and has  concluded  that its  hardware  and
software is Year 2000 compliant.

The  Company's  Year 2000  program is designed to reduce the  Company's  risk of
material  losses due to the Year 2000 issue.  Management does not anticipate any
material adverse effect from the Year 2000 issue; however, the Company cannot be
certain that it will not suffer material adverse effects in the event that third
parties  upon which the Company is  dependent  are unable to resolve  their Year
2000 issues.


                                       9

<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

                  Not Applicable.

ITEM 2.           CHANGES IN SECURITIES

                  Not Applicable.

ITEM 3.           DEFAULTS UPON SENIOR SECURITIES

                  Not Applicable.

ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                  Not Applicable.

ITEM 5.           OTHER INFORMATION

                  Not Applicable.

ITEM 6.           EXHIBITS AND REPORTS ON FORM 8-K

                  A)       EXHIBITS


REGULATION                                                         CONSECUTIVE
S-B NUMBER                        EXHIBIT                          PAGE NUMBER

   2.1       Stock Exchange Agreement with Micronetics (1)             N/A

   3.1       Articles of Incorporation, as amended and restated (1)    N/A

   3.2       Bylaws (1)                                                N/A

  10.1       Research, Development and Licence Agreement dated
             May 11, 1999 between Praxis Pharmaceuticals, Inc. and
             Fairchild International Inc. (1)                          N/A

  10.2       Exclusive Licence Agreement dated October 14, 1999
             between Anutech Pty Ltd. and Praxis Pharmaceuticals
             Australia Pty Ltd. (1)                                    N/A

  10.3       Licence Agreement dated October 14, 1999 between
             Anutech Pty Ltd. and Praxis Pharmaceuticals Inc. (1)      N/A

  10.4       Shareholders Agreement dated as of October 15, 1999,
             between Praxis Pharmaceuticals Australia Pty Ltd.,
             Praxis Pharmaceuticals Inc., Perpetual Trustees
             Nominees Limited, and Rothschild Bioscience Managers
             Limited (1)                                               N/A

  10.5       1999 Stock Option Plan (1)                                N/A

   27        Financial Data Schedule                                    12

----------------------------
(1)  Incorporated by reference to the exhibits filed with the Registration
     Statement on Form 10-SB, File No.0-28627


                                       10
<PAGE>


                  B)       REPORTS ON FORM 8-K:

                  None.


                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                                            PRAXIS PHARMACEUTICALS, INC.
                                            (Registrant)


Date: October 19, 2000                      By: /s/David Stadnyk
                                               --------------------------------
                                                  David Stadnyk, Secretary
                                                 (Principal financial officer)



                                       11

<PAGE>