Marinus Pharmaceuticals Announces Inducement Grants Under NASDAQ Listing Rule 5635(C)(4)
October 09 2018 - 4:48PM
Marinus Pharmaceuticals, Inc. (Nasdaq:MRNS) (the “Company”,
“Marinus”), a biopharmaceutical company dedicated to the
development of innovative therapeutics to treat epilepsy and
neuropsychiatric disorders, today announced that the Compensation
Committee of the Board of Directors of Marinus granted
non-qualified stock options to purchase an aggregate of 120,000
shares of its common stock to a new employee, with a grant date of
October 8, 2018.
The options have an exercise price of $7.37 per
share, which is equal to the closing price of Marinus’s common
stock on October 8, 2018, the date of grant. The options will vest
and become exercisable as to 25 percent of the shares on the
one-year anniversary of the recipient's start date, and will vest
and become exercisable as to the remaining 75 percent of the shares
in 36 equal monthly installments at the end of each month following
the anniversary, subject to the employee's continued employment
with Marinus on such vesting dates. The stock options were
granted as inducements material to the new employee entering into
employment with Marinus in accordance with NASDAQ Listing Rule
5635(c)(4), and are subject to the terms and conditions of a stock
option agreement covering the grant.
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. For more
information visit www.marinuspharma.com. Please follow us on
Twitter: @MarinusPharma.
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, 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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