Marinus Pharmaceuticals Inc (MRNS)

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MRNS

ACCESSWIRE - Thu Aug 3, 7:10AM CDT
NEW YORK, NY / ACCESSWIRE / August 3, 2017 / Marinus Pharmaceuticals may have reported a loss in its second quarter, but traders may have been encouraged by the company's business update about a phase 2 Magnolia study.

Marinus Pharmaceuticals, Inc.'s shares closed up 2.73% yesterday on trading volume higher than the average trading volume. Share price rose despite the company reporting a loss in its second quarter report of $4.6 million and a loss of 21 cents per share. The biotech company dedicated to the development of innovative therapeutics to treat epilepsy and neuropsychiatric disorders, also announced that it has received Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for ganaxolone for the treatment of CDKL5 disorder. CEO Christopher M. Cashman commented, "This quarter Marinus significantly advanced the development of ganaxolone, which positions us to achieve several value-creating milestones in the second half of this year. With intravenous dosing occurring in our Magnolia study and plans to initiate the Amaryllis study with ganaxolone capsules, we are well positioned to evaluate inpatient and outpatient treatments with ganaxolone in women diagnosed with both severe and moderate PPD."