Marinus Pharmaceuticals Inc (NASDAQ: MRNS)
Marinus Pharmaceuticals is having an overwhelmingly strong day in the market today. When the session kicked off, the stock was already trading well into the green. From there it seems as though it has been on a mad dash toward the top. Below, we’ll talk about what we’re seeing from MRNS, why, and what we’ll be watching for with regard to the stock ahead.
What We’re Seeing From MRNS
As mentioned above, Marinus Pharmaceuticals is off to an overwhelmingly strong start to the trading session today. When the opening bell rang, the stock found itself well into the green. From there, we’ve only seen a continuation of strong movement, pushing the value higher and higher. At the moment (10:02), MRNS is trading at $1.68 per share after a gain of $0.52 per share (45.26%) thus far today.
Why The Stock Is Gaining
As soon as we received the alert from Trade Ideas that MRNS was making a run for the top, the CNA Finance team started digging to see exactly what was causing the movement. In this case, it didn’t take long to uncover the story. Early this morning, the company announced positive preliminary data from the initial CDKL5 patients enrolled in the company’s ongoing Phase 2 open-label study of ganaxolone as a treatment for orphan genetic disorders.
In the announcement Marinus Pharmaceuticals said that 4 patients have been enrolled in this particular cohort to date. In the study, they have received up to 1,800 mg/kg of ganaxolone per day for an average treatment duration of five months. Of the four patients, three of them have experienced a notable reduction in seizure frequency when compared to baseline, ranging from 52% to 88%. The treatment has also proven to be generally safe and well tolerated. In a statement, Dr. Jaakko Lappalainen, Vice President of Clinical Development at MRNS, had the following to offer:
“We are encouraged by the results in these difficult-to-treat pediatric patients… Concurrent with completing this study, we will be evaluating the potential for breakthrough therapy and applying for orphan drug designation with the United States Food and Drug Administration. CDKL5 pediatric epilepsy may prove to be an attractive and efficient path for ganaxolone and we look forward to evaluating results from the final patients enrolled in this cohort of the study.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on MRNS. In particular, we’re interested in following the study through the process. At the moment things are looking promising, making it more exciting to watch for finalized data. We’ll keep a close eye on the news and bring it to you as it breaks!
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