Marinus Pharmaceuticals (NASDAQ: MRNS) Rallies After Giving Updates for its Clinical Studies and Public Stock Offering

Marinus Pharmaceuticals (NASDAQ: MRNS) was one of the top gainers in Wednesday’s trading session, and closed the day with gains of 37.98%. This followed the company’s clinical and regulatory updates for its orphan seizure programs in tuber sclerosis complex (TSC), PCDH-19 linked epilepsy, and CDKL5 deficiency disorder. 

While speaking on the TSC program, the company CEO stated that, the decision to expand on this program was informed by the finding of a new epilepsy biomarker, Allo-S, in the company’s phase 2 study on PCDH19 linked epilepsy.

On CDKL5 Deficiency disorder program, the company announced that the European Medicines Agency had given it orphan drug designation for the treatment of CDD. This designation is usually assigned to medicines that are meant to treat rare diseases. The CEO stated that, by getting the orphan drug designation for its CDD program, the company has achieved a major milestone towards the advancement of its treatment called ganaxolene for its phase 3 Marigold study.

On PCDH-19, the company announced that it was proceeding with its violet study. This is a single pivotal phase 3 study evaluating oral ganaxolene in children that are suffering from PCDH19-RE. The company added that, it will enroll 70 patients in the 1-17 age bracket and that, it was within its timelines to give top line data on it in 2021.

Besides news on its scientific advancements, yesterday the company announced that it was pricing its $65 million stock offer. The company announced that, it intends to use the money from the public sale to push its development of ganaxolene including trials for its trials seizure disorders.

Looking at the charts, the company was trading between a low of $1.35 and a high of $1.84 before closing the day at $1.78. Volumes in the day stood at 12.98 million.

About Marinus Pharmaceuticals Inc

Marinus Pharmaceuticals Inc is a biopharma company that develops and commercializes treatments for epilepsy and other neuropsychiatric disorders. It has its headquarters in Radnor, Pennsylvania.