Marinus Pharmaceuticals Announces closing of Public Offering of Common Stock and full exercise of underwriter’s option to p...
September 19 2017 - 4:01PM
Marinus Pharmaceuticals, Inc. (Nasdaq:MRNS) (“Marinus” or the
“Company”) announced the closing of an underwritten public offering
of 10,733,334 shares of its common stock for a public offering
price of $3.75 per share. This includes the exercise in full by the
underwriter of its option to purchase up to 1,400,000 additional
shares of common stock. The offering was led by Bain Capital Life
Sciences with participation from new and existing investors,
raising gross proceeds of approximately $40.3 million, before
deducting underwriting discounts and commissions and estimated
offering expenses payable by the Company.
Marinus intends to use the net proceeds of this
offering to advance the clinical development of ganaxolone,
including trials for its rare genetic pediatric epilepsy program,
and for working capital and general corporate purposes.
JMP Securities LLC acted as sole bookrunning
manager for the offering.
The securities described above were 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. A final prospectus supplement and
accompanying prospectus relating to the offering was filed with the
SEC and is available on the SEC's website located 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
anticipated use of proceeds from the public offering.
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. 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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