On 19 May 2020, Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) spotted trading -42.03% off 52-week high price. On the other end, the stock has been noted 263.64% away from the low price over the last 52-weeks. The stock changed 11.11% to recent value of $2.8. The stock transacted 859086 shares during most recent day however it has an average volume of 1014.9K shares. The company has 86.66M of outstanding shares and 86.19M shares were floated in the market.
Marinus Pharmaceuticals, Inc. (MRNS) recently provided a business update on its clinical development activities and stated its financial results for the year ended December 31, 2019.
“We have started 2020 in a strong position, with recent accomplishments in the clinic that support our strategy to develop ganaxolone in mechanistically relevant disease states where we have the potential to importantly improve patient outcomes,” stated Scott Braunstein, M.D., Chief Executive Officer of Marinus. “We have recently reported enrollment completion for our Phase 3 trial in CDD and remain on track for topline data later this year. Preparations are underway for our first potential NDA filing and commercial launch with oral ganaxolone. Our team continues to build momentum in the status epilepticus program and we are on track for the initiation later this year of our pivotal Phase 3 trial. Taken together , we believe we have developed thoughtful, data-driven clinical programs designed to provide new treatments to patients suffering from severe and rare seizure disorders.”
At December 31, 2019, we had cash and cash equivalents of $90.9M contrast to $67.7M at December 31, 2018. We believe that our cash, cash equivalents and investments as of December 31, 2019 will enable us to fund our operating expenses and capital expenditure requirements into the third quarter of 2021.
Research and development expenses increased to $43.0M for the year ended December 31, 2019, as contrast to $28.4M in the year ended December 31, 2018. The primary drivers for the increase to our research and development expenditures were clinical and manufacturing activities in support of our Phase 3 trials in CDD and PCDH19-RE, partially offset by reduced costs for non-seizure disorder indications.
General and administrative expenses were $11.5M for the year ended December 31, 2019 as contrast to $8.8M in the previous year. The primary drivers of this increase were $1.3M in severance expenses related to the departure of former executive officers ($0.4M of which was non-cash equity compensation expense), and about $1.2M in professional fees and other costs associated with a raised scale of operations.
The Company stated a net loss of $54.1M for the year ended December 31, 2019, contrast to $36.7M for the year ended December 31, 2018. Cash used in operating activities increased to $48.6M for the year ended December 31, 2019 contrast to $27.8M for the year ended December 31, 2018.
Readers are referred to, and encouraged to read in its entirety, the Company’s Yearly Report on Form 10-K for the quarter ended December 31, 2019 to be filed with the Securities and Exchange Commission, which includes further detail on the Company’s business plans, operations, financial condition and results of operations.
The price moved ahead of 35.28% from the mean of 20 days, 49.68% from mean of 50 days SMA and performed 63.09% from mean of 200 days price. Company’s performance for the week was 18.31%, 32.63% for month and YTD performance remained 16.67%.