Marinus plunges as seizure drug fails to meet early stopping criteria for study

Marinus Pharmaceuticals

15/04/2024 15:23

(Updates)
    ** Shares of drug developer Marinus Pharmaceuticals  MRNS.O 
fall as much as 77.5% to record low of $1.69
    ** MRNS says its experimental drug to treat refractory
status epilepticus (RSE) failed to meet criteria for early
stoppage of a late-stage study
    ** MRNS says an independent data monitoring committee has
recommended continuing the study following an interim analysis
    ** RSE is defined as persistent seizures despite appropriate
use of two intravenous medications 
    ** Says co has completed study enrollment at about 100
patients with results expected in summer 2024
    ** Study results will be used to determine whether to
continue development of the drug, intravenous ganaxolone - MRNS
    ** "The news comes both as a shock and a disappointment to
us given promising mid-stage study results," Truist Securities
analyst Joon Lee wrote in a note
    ** Up to last close, stock down ~31% YTD

 (Reporting by Mariam Sunny and Sneha S K in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))