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- Marinus Pharmaceuticals (NASDAQ:MRNS) has dropped by ~78% Monday morning after reporting that a phase 3 interim analysis of lead asset ganaxolone did not meet pre-defined stopping criteria.
- The RAISE trial is examining an intravenous formulation of ganaxolone for refractory status epilepticus.
- Marinus, however, has decided to finish enrollment in the trial at with about 100 patients. Topline results are expected this summer, and they will be used to determine if development of IV ganaxolone will be continued.
- An oral suspension version of ganaxolone, marketed in the U.S. as Ztalmy, is approved for seizures associated with cyclin-dependent kinase-like 5 (CDKL5) deficiency. The company estimates the drug took in revenue of between $7.4M and $7.6M in Q1
- Marinus (MRNS) also said it is re-examining cost reduction measures to extend its cash runway beyond Q4. Changes are planned to take place in Q2.