Marinus Pharmaceuticals Inc (NASDAQ:MRNS)
Marinus Pharmaceuticals Inc (NASDAQ:MRNS) stock price increased over 12% on Friday on volumes over fifteen times their average. The biotech company’s shares closed at $1.88 on Thursday, then opened at $1.90 before hitting an inter-day high of $2.15. MRNS shares began 2017 trading under $1.
Radnor, PA- based Marinus Pharmaceuticals Inc (NASDAQ:MRNS) is a clinical stage bio-pharmaceutical company that develops and commercializes treatments for epilepsy and neuropsychiatric disorders. Marinus is developing ganaxolone, a small molecule. The drug is in Phase III clinical trials for the treatment of refractory focal onset epileptic seizures in adults. The drug is also Phase II clinical trials for the treatment of genetic orphan disorders, as well as is in Phase II clinical trial to treat Fragile X Syndrome, an orphan indication. Marinus is also developing the ganaxolone IV formulation to treat status epilepticus. Marinus Pharmaceuticals Inc (NASDAQ:MRNS) has a collaboration agreement with NovaMedica, LLC; and a licensing agreement with Purdue Neuroscience Company.
Last Tuesday, Marinus Pharmaceuticals Inc (NASDAQ:MRNS) reported a loss of $4.6 million in its second quarter or (-$0.21) per share. Research and development expenses were $2.8 million and $6.4 million for the three and six months ended June 30, 2017, respectively, a decrease of $4.4 million and $6.4 million for the three and six-month periods ended June 30, respectively. SG&A expenses were $1.7 million and $3.5 million for the three and six months ended June 30, 2017, respectively, as compared to similar expense amounts of $1.6 million and $3.2 million for the same periods in the prior year. Cash used in operating activities $11.2 million for the six months ended June 30, 2017, a decrease of $1.0 million from the same period a year ago. The change in operating activities was driven primarily by a decrease in net loss of $6.2 million, partially offset by a decrease in the change in operating assets and liabilities of $5.2 million.
Marinus Pharmaceuticals Inc (NASDAQ:MRNS) has had a good year. YTD, MRNS shares are up over 109%. The biotech firm has no sales however. Since 2012, shareholders have experienced losses every year. In 2012, the loss was (-$0.29) and that expanded in 2014 to a loss of (-$2.17) before contracting to a loss of (-$1.47) for 2016.
The Relative Strength Index (RSI) for Marinus Pharmaceuticals Inc (NASDAQ:MRNS) is around 80 – a level generally assumed to represent an “overbought” situation. Two investment firms follow MRNS shares. One rates them a “Strong Buy”, but the other rates the shares a “Hold”.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.