Marinus plummets after discontinuing development of rare disease drug

Marinus Pharmaceuticals

24/10/2024 13:49

** Shares of therapy developer Marinus Pharmaceuticals
 MRNS.O  fall ~61.5% to 65 cents premarket
    ** Co says it is discontinuing development of its oral drug
ganaxolone after it missed the main goal in a late-stage trial
in patients with a rare genetic brain disease called tuberous
sclerosis complex (TSC)
    ** MRNS says the drug did not show a significant reduction
in frequency of TSC-associated seizures
    ** Co says it is exploring strategic alternatives and is
taking additional steps to reduce costs, including a reduction
in its workforce
    ** Up to last close, stock down 84.5% YTD

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))