Marinus downgraded after setback to late-stage trial

seekingalpha10-25

Marinus Pharmaceuticals (NASDAQ:MRNS) continued to trade lower in the premarket on Friday as TD Cowen and Truist downgraded the company after the recent Phase 3 setback for its lead asset, ganaxolone,...

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The Pennsylvania-based pharma said Thursday that the FDA-approved therapy marketed as Ztalmy did not meet the primary endpoint in a Phase 3 trial for patients with seizures associated with tuberous sclerosis complex, a rare genetic disorder. Noting the management's cost-cutting measures and plans to explore strategic alternatives announced after the setback, TD Cowen analyst Joseph Thome also pointed to its cash constraints and unclear timing for its next steps. “We look forward to additional details and updates on strategic alternatives,” Thome wrote as he downgraded Marinus  to Hold from Buy. Meanwhile, downgrading MRNS to Hold from Buy, Truist said its projections of $33M in 2024 sales and more than $100M peak sales for Ztalmy ar","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"MRNS":"Marinus Pharmaceuticals"},"translate_title":"Marinus在后期试验受挫后降级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MRNS":0.9},"content_text":"Marinus Pharmaceuticals (NASDAQ:MRNS) continued to trade lower in the premarket on Friday as TD Cowen and Truist downgraded the company after the recent Phase 3 setback for its lead asset, ganaxolone, which led to an ~82% drop in its share price in the previous session. The Pennsylvania-based pharma said Thursday that the FDA-approved therapy marketed as Ztalmy did not meet the primary endpoint in a Phase 3 trial for patients with seizures associated with tuberous sclerosis complex, a rare genetic disorder. Noting the management's cost-cutting measures and plans to explore strategic alternatives announced after the setback, TD Cowen analyst Joseph Thome also pointed to its cash constraints and unclear timing for its next steps. “We look forward to additional details and updates on strategic alternatives,” Thome wrote as he downgraded Marinus (NASDAQ:MRNS) to Hold from Buy. Meanwhile, downgrading MRNS to Hold from Buy, Truist said its projections of $33M in 2024 sales and more than $100M peak sales for Ztalmy are “not enough to get us excited.” Given the recent volatility in the stock and low share price, the firm didn’t indicate a price target for the company.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2478980942"}