Marinus Pharmaceuticals Announces Pricing of Public Offering of Common Stock
December 12 2018 - 8:26PM
Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) (“Marinus” or the
“Company”) announced the pricing of an underwritten public offering
of 12,000,000 shares of common stock at a public offering price of
$3.75 per share. The total public offering size is expected to be
$45.0 million, before deducting the underwriting discounts and
commissions and other offering expenses payable by the Company. The
Company has granted to the underwriters participating in the
offering a 30-day option to purchase up to an additional 1,800,000
shares of common stock. The offering is expected to close on or
about December 17, 2018, subject to customary closing conditions.
Marinus intends to use the net proceeds received
from the sale of its common stock to advance the preclinical and
clinical development of ganaxolone, including clinical trial
expenses, including trials for postpartum depression and its rare
pediatric refractory epilepsy program, and regulatory, research and
development, pre-commercial, general and administrative and
manufacturing expenses and for working capital and general
corporate purposes.
Jefferies LLC and Leerink Partners LLC are
acting as joint bookrunning managers for the offering. Cantor
Fitzgerald & Co. is acting as lead manager for the offering,
and Robert W. Baird & Co. Incorporated is acting as
co-manager.
The securities described above are being offered
by the Company pursuant to a shelf registration statement
previously filed with and declared effective by the Securities and
Exchange Commission on December 1, 2017. The offering will be made
only by means of the written prospectus and prospectus supplement
that form a part of the registration statement. A prospectus
supplement and the accompanying prospectus relating to the
securities being offered will be filed with the SEC and will be
available on the SEC’s website at http://www.sec.gov. Copies of the
prospectus supplement and the accompanying prospectus relating to
the securities being offered may also be obtained from Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, NY 10022, via telephone at
877-821-7388 or email at Prospectus_Department@Jefferies.com; from
Leerink Partners LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA 02110 or by telephone at (800)
808-7525 ext. 6132 or by email at syndicate@leerink.com.
This press release does not constitute an offer to sell
or the solicitation of offers to buy any
securities of Marinus being
offered, and shall not constitute an offer,
solicitation or sale of any security in any state
or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or
qualification under the securities laws of any such state
or jurisdiction.
About Marinus
Pharmaceuticals
Marinus Pharmaceuticals, Inc. is a
biopharmaceutical company dedicated to the development of
ganaxolone, which offers a new mechanism of action, demonstrated
efficacy and safety, and convenient dosing to improve the lives of
patients suffering from epilepsy and neuropsychiatric disorders.
Ganaxolone is a positive allosteric modulator of GABAA that acts on
a well-characterized target in the brain known to have
anti-seizure, anti-depressant and anti-anxiety effects. Ganaxolone
is being developed in three different dose forms (IV, capsule and
liquid) intended to maximize therapeutic reach to adult and
pediatric patient populations in both acute and chronic care
settings. Marinus has initiated the first ever pivotal study
in children with CDKL5 deficiency disorder, a rare form of
epilepsy, and is currently conducting studies in patients with
postpartum depression and refractory status epilepticus.
Forward-Looking Statements
To the extent that statements contained in this press release
are not descriptions of historical facts regarding Marinus, they
are forward-looking statements reflecting the current beliefs and
expectations of management made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Words such as “may”, “will”, “expect”, “anticipate”, “estimate”,
“intend”, “believe”, and similar expressions (as well as other
words or expressions referencing future events, conditions or
circumstances) are intended to identify forward-looking
statements. Examples of forward-looking statements contained
in this press release include, among others, statements regarding
our interpretation of preclinical studies, development plans for
our product candidate, including the development of dose forms, the
clinical trial testing schedule and milestones, the ability to
complete enrollment in our clinical trials, interpretation of
scientific basis for ganaxolone use, timing for availability and
release of data, the safety, potential efficacy and therapeutic
potential of our product candidate and our expectation regarding
the sufficiency of our working capital. Forward-looking statements
in this release involve substantial risks and uncertainties that
could cause our clinical development programs, future results,
performance or achievements to differ significantly from those
expressed or implied by the forward-looking statements. Such risks
and uncertainties include, among others, the uncertainties inherent
in the conduct of future clinical trials, that results of
preclinical studies or earlier clinical trials are not necessarily
predictors of future results in later preclinical studies or
clinical trials, the timing of the clinical trials, enrollment in
clinical trials, availability of data from ongoing clinical trials,
expectations for regulatory approvals, the attainment of clinical
trial results that will be supportive of regulatory approvals, and
other matters, including the development of formulations of
ganaxolone, and the availability or potential availability of
alternative products or treatments for conditions targeted by the
Company that could affect the availability or commercial potential
of our drug candidates. Marinus undertakes no obligation to update
or revise any forward-looking statements. For a further description
of the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to the business of the Company in general,
see filings Marinus has made with the Securities and Exchange
Commission.
CONTACT:
Lisa M. CaperelliExecutive Director, Investor & Strategic
RelationsMarinus Pharmaceuticals,
Inc.484-801-4674lcaperelli@marinuspharma.com
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