Marinus Pharmaceuticals Announces Public Offering of Common Stock
December 11 2018 - 4:01PM
Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS), (“Marinus” or the
“Company”) today announced that it intends to offer and sell
12,000,000 shares of its common stock in an underwritten public
offering. All of the shares in the offering are to be sold by
Marinus. Jefferies LLC and Leerink Partners LLC are acting as
joint bookrunning managers for the offering. Marinus also expects
to grant the underwriters a 30-day option to purchase up to an
additional 1,800,000 shares of common stock. The offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the actual
size or terms of the offering.
Marinus intends to use the net proceeds received
from the sale of its common stock to advance the preclinical and
clinical development of ganaxolone, including clinical trial
expenses, including trials for postpartum depression and its rare
pediatric refractory epilepsy program, and regulatory, research and
development, pre-commercial, general and administrative and
manufacturing expenses and for working capital and general
corporate purposes.
The shares will be issued by Marinus pursuant to
a shelf registration statement that was previously filed with, and
declared effective by, the Securities and Exchange Commission (SEC)
on December 1, 2017. The offering will be made only by means
of the written prospectus and prospectus supplement that form a
part of the registration statement. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
the securities being offered may also be obtained from Jefferies
LLC., Attention: Equity Syndicate Prospectus Department, 520
Madison Avenue, 2nd Floor, New York, NY 10022, via telephone at
877-821-7388 or email at Prospectus_Department@Jefferies.com; or
from Leerink Partners LLC, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston, MA 02110 or by telephone at
(800) 808-7525 ext. 6132 or by email at syndicate@leerink.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
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.
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, that results of
preclinical studies or earlier clinical trials are not necessarily
predictors of future results in later preclinical studies or
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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