Marinus Pharma rises after $110 mln sale of review voucher

Marinus Pharmaceuticals

14/07/2022 12:32

** Shares of Marinus Pharmaceuticals Inc  MRNS.O  up 5.4% at
$5.85 premarket 
    ** MRNS says it agreed to sell a priority review voucher
(PRV) that it gained after the U.S. FDA approval of its rare
disease drug Ztalmy in March to Novo Nordisk Inc  NOVOb.CO  for
$110 mln  urn:newsml:reuters.com:*:nL3N2VL3L7
    ** The deal will help co fund its ongoing late-stage trials,
CFO Steven Pfanstiel tells Reuters
    ** The PRV sale comes at a time when slumping valuations in
the biotech sector have hit public funding for biotech cos
 urn:newsml:reuters.com:*:nL3N2XF2YK
    ** The voucher makes its holder eligible to have one of its
drugs reviewed in six months by the FDA, versus the standard of
roughly 10 months 
    ** MRNS shares are down ~53% YTD 

 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))