Marinus tanks as epilepsy drug ganaxolone fails in Phase III
US biopharma company Marinus Pharmaceuticals (Nasdaq: MRNS) saw its share plummet today after it announced disappointing top-line results from its Phase III clinical trial in adults with drug-resistant focal onset seizures.
In this trial, ganaxolone did not meet the primary endpoint of demonstrating a statistically-significant difference from placebo. Consistent with previously conducted studies, ganaxolone was generally safe and well tolerated. Marinus plans to discontinue its program in adult focal onset seizures and focus its efforts on advancing ganaxolone in status epilepticus and pediatric orphan indications.
Shares of Marinus were down 70.2% at $1.59 early Monday morning, with a consensus analyst price target of $14.60 and a previous 52-week trading range of $4.00 to $20.72.
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