Marinus Pharma falls on delay in data readout for seizure treatment, PT cuts

Marinus Pharmaceuticals

11/08/2023 15:51

** Shares of drugmaker Marinus Pharmaceuticals Inc  MRNS.O 
fall 9.38% to $7.15
    ** Co said on Thursday it expects data from late-stage trial
of its intravenous treatment for a type of seizures in Q1 2024;
it was previously expected before year-end 2023
    ** The trial is for studying its drug ganaxolone in patients
with a type of seizures known as refractory status epilepticus
     ** The delay was due to slower-than-anticipated enrollment
during the summer, which was believed to be caused by high
turnover of study site personnel - TD Cowen
    ** Brokerage says the delay is disappointing, but remains
optimistic
    ** At least 5 brokerages cut PT on co
    ** The oral version of the drug, under the brand name
Ztalmy, is approved by the U.S. FDA for treatment of seizures
associated with CDKL5 deficiency disorder, a rare genetic
epilepsy
    ** Stock up ~78% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))