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Why is Marinus Pharmaceuticals Inc (MRNS) Stock down?

We've noticed a 5.86% decline in Marinus Pharmaceuticals Inc (MRNS) stock during the 2024-06-18 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
15 Apr, 2024:

Marinus Pharmaceuticals Inc (MRNS) stock declined by 7.69% due to disappointing Phase 3 trial data. The company's intravenous ganaxolone treatment for refractory status epilepticus (RSE) did not meet the criteria for early stopping, leading to concerns among traders and heavy selling of MRNS stock.

  • Phase 3 Trial Results: The Phase 3 trial results for ganaxolone fell short of expectations, with the drug failing to meet the criteria for early stopping. As a result, Marinus Pharmaceuticals will not have final results from the trial until the summer. The company is continuing the trial based on the recommendation of an independent Data Monitoring Committee. Marinus Pharmaceuticals' Chairman and CEO, Scott Braunstein, expressed disappointment over the trial results. He stated that the company would only be able to determine the trial's outcome once they analyze the full data set. Additionally, the company will be evaluating cost-saving strategies to strengthen its capital position as it progresses with the global Phase 3 TrustTSC trial in tuberous sclerosis complex.
  • Impact on MRNS Stock: The announcement of the Phase 3 trial results led to heavy trading of MRNS stock, with more than 13 million units traded, significantly higher than the daily average trading volume. Investors reacted to the news by selling shares, causing the stock price to decline.
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