Commenting on plans for 2017, Marinus Pharmaceuticals Inc (NASDAQ:MRNS) reported that the company plans to commence Phase 2 study in women with PPD in the first half of 2017. The top-line report from patients with genetic, orphan disorders is expected to come in mid-2017. It also plans to commence Phase 2 trial in patients with SE in 2H2017. Moreover, the detail on Phase 2 readouts on post-partum depression and Ganaxolone is also planned for this year. With these programs, the company wants to extend its footprint in the relative industry.
The details
Recently, Marinus completed license and supply deal with Ligand Pharmaceuticals, which helps the company to get Captisol base for IV delivery of Ganaxolone. Besides this deal, the company engaged Dr. Lorianne K. Masuoka as the CMO of the firm. Dr. Masuoka has worked on key management profiles with numerous leading firms. She has overseen and managed teams in the distinct areas of clinical research, biostatistics, data management, drug safety, reimbursement, clinical operations and regulatory affairs.
Commenting on the new role, Dr. Lorianne expressed that he is impressed with the safety, tolerability and efficacy profile of ganaxolone. He plans to put in sincere efforts in shaping and executing company’s strategy to progress ganaxolone into patient populations where GABAA modulation is a prime component to resolve the underlying disease state.
Coming on the financial performance of the firm, as of the close of March 2017, Marinus recorded cash reserves of $24.8 million. The management considers that the current cash reserves are adequate to support operating expenses, capital expenditure requirements and debt obligations into the 2H2018.
In the last trading session, the stock price of Marinus gained more than 3% to close the day at $1.20. The gains came at a share volume of 204,561 compared to average share volume of 217,522.