Marinus Pharmaceuticals Announces Pricing of Public Offering of Common Stock
September 15 2017 - 7:30AM
Marinus Pharmaceuticals, Inc. (Nasdaq:MRNS) (“Marinus” or the
“Company”) announced the pricing of an underwritten public offering
of 9,333,334 shares of common stock for a public offering price of
$3.75 per share. The gross proceeds from the offering are expected
to be $35 million, before deducting underwriting discounts and
commissions and estimated offering expenses payable by the Company.
The Company has granted the underwriter a 30-day option to purchase
up to an additional 1,400,000 shares of common stock. The offering
is expected to close on or about September 19, 2017, subject to
customary closing conditions.
We currently intend to use the net proceeds of
this offering to advance the clinical development of ganaxolone,
including trials for our rare genetic pediatric epilepsy program,
and for working capital and general corporate purposes.
JMP Securities LLC is acting as sole bookrunning
manager for the offering.
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 August 25, 2015. 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 JMP
Securities LLC, 600 Montgomery Street, Suite 1100, San Francisco,
California 94111, Attention: Prospectus Department, by calling
(415) 835-8985, or by email at
syndicate@jmpsecurities.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, Inc.
Marinus Pharmaceuticals, Inc. is a clinical
stage biopharmaceutical company focused on developing and
commercializing innovative therapeutics to treat epilepsy and
neuropsychiatric disorders. Our clinical stage product candidate,
ganaxolone, is a positive allosteric modulator of GABAA being
developed in three different dose forms: intravenous (IV), oral
capsule and oral liquid. The multiple dose forms are intended to
maximize the therapeutic range of ganaxolone for both adult and
pediatric patient populations, in both acute and chronic care, and
both in-patient and self-administered settings. Ganaxolone exhibits
anti-seizure and anti-anxiety actions via its effects on synaptic
and extrasynaptic GABAA receptors.
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 and our expectations on the
completion, timing and size of the proposed public offering and the
anticipated use of proceeds therefrom. 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, 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 and the
risks and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed public offering. 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:
Company: Lisa M.
CaperelliExecutive Director, Investor & Strategic
RelationsMarinus Pharmaceuticals,
Inc.484-801-4674lcaperelli@marinuspharma.com
Marinus Pharmaceuticals (NASDAQ:MRNS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Marinus Pharmaceuticals (NASDAQ:MRNS)
Historical Stock Chart
From Sep 2023 to Sep 2024