Marinus Pharmaceuticals Inc (NASDAQ:MRNS)
Marinus Pharmaceuticals Inc (NASDAQ:MRNS) provided a business update on its clinical advancement activities and announced its financial report for the year closed December 31, 2016. The new intravenous formulation of ganaxolone was administered to healthy volunteers and was demonstrated to be well tolerated and safe. It touched dose levels aimed for Phase 2 trials in status epilepticus (SE), postpartum depression (PPD) and other indications.
Ganaxolone lowered seizure frequency, was well tolerated, and generally safe in an on-going Phase II study in kids with orphan, genetic disorders, counting the initial treated kids with CDKL5 disorder and the 11 kids with PCDH19 pediatric epilepsy. Marinus Pharmaceuticals Inc (NASDAQ:MRNS) reported that Ganaxolone improved hyperactivity and anxiety across numerous anxiety scales in a Phase II clinical trial in Fragile X Syndrome kids with high baseline anxiety. The U.S. FDA has allowed orphan drug status for ganaxolone.
Two seasoned biotech personnel were elected to the board of directors. Christopher M. Cashman, the CEO, reported that they enter 2017 concentrated on delivering clinical data to assist advancing numerous formulations of ganaxolone in ailments with no or few approved treatment alternatives. They are in the course of starting their Phase 2 clinical study in women suffering from postpartum depression.
For status epilepticus, Marinus Pharmaceuticals Inc (NASDAQ:MRNS) have obtained regulatory feedback from U.S. FDA on the trial protocol and are making arrangements to commence Phase 2 clinical study. With numerous near-term achievements on the horizon, 2017 shows may be a significant year for company.
The near-term catalysts for company include Phase 2 trial in women with PPD planned in 1H 2017. It intends to release top-line report from subjects with orphan, genetic disorders in this year. Also, there is a plan to commence Phase 2 trial in subjects with SE in 2H 2017, and release report of preliminary PPD subject cohort(s) in 2H 2017.
As of close of December 2016, the company recorded cash/cash equivalents and investments amounting to $30.1 million, as against $57.7 million in the same period, a year ago. These funds will fund capital expenditure and operating expenses requirement of the firm in second half of 2018.
Zacks Investment Research has downgraded Marinus Pharmaceuticals Inc (NASDAQ:MRNS) to a “hold” rating from a “strong-buy” rating in a report released in January. Sphera Funds Management LTD., a hedge fund, had raised its stake in company’s stock by around 14% during the third quarter, as per the recent Form 13F filing.
|Last Price a/o 3:21 PM EST||$1.52|
|Market Cap (mlns)||$32.74M|
|Shares Outstanding (mlns)||21.54M|
|Share Float (mlns)||19.53M|
|Short Interest Ratio||1.42|
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.