Marinus Pharmaceuticals Receives Orphan Drug Status for Ganaxolone as Treatment for Status Epilepticus

Print 18 April 2016
Robin Reyes / SonoranWeeklyReview.com

Marinus Pharmaceuticals (NASDAQ:MRNS) has received orphan drug designation from the U.S. Food and Drug Administration (FDA) for ganaxolone for the treatment of status epilepticus, according to the agency’s website. Status epilepticus is a dangerous condition in which epileptic seizures follow one another without recovery of consciousness between them. Ganaxolone has previously been given orphan drug designation for two other indications – as treatment for Protocadherin 19 (PCDH19) female epilepsy and as treatment for infantile spasms. MRNS shares closed at $5.17, with a 52-week range of $4.00 – $20.72.

The stock decreased 5.31% or $0.29 on April 14, hitting $5.17. Marinus Pharmaceuticals Inc (NASDAQ:MRNS) has declined 60.02% since September 9, 2015 and is downtrending. It has underperformed by 67.26% the S&P500.

Marinus Pharmaceuticals, Inc., a clinical stage biopharmaceutical company, focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders. It is developing ganaxolone, a small molecule, which is in Phase III clinical trials to treat adults with refractory focal onset epileptic seizures; and is in Phase II clinical trials for the treatment of orphan disease, as well as is in Phase II clinical trial to treat Fragile X Syndrome, an orphan indication. The company is also developing an IV formulation for use in the hospital setting to treat status epilepticus. Marinus Pharmaceuticals, Inc. has a collaboration agreement with NovaMedica, LLC; and license agreement with Purdue Neuroscience Company. The company was founded in 2003 and is based in Radnor, Pennsylvania.

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