Marinus Pharma (MRNS) Misses Q4 EPS by 4c, Revenues Beat

Marinus Pharma (NASDAQ: MRNS) reported Q4 EPS of ($0.55), $0.04 worse than the analyst estimate of ($0.51). Revenue for the quarter came in at $1.55 million versus the consensus estimate of $1.04 million.

“Although 2020 was extremely challenging for so many, we finished the year achieving several important milestones, which has provided momentum into 2021,” said Scott Braunstein, M.D., Chief Executive Officer of Marinus Pharmaceuticals. “We remain on track to submit a new drug application to the FDA for use of ganaxolone in CDKL5 deficiency disorder, continue active enrollment in our Phase 3 RSE trial, while advancing and expanding our oral programs. In the second half of 2021 our attention will continue to be focused on enrolling our Phase 3 trials in RSE and TSC, advancing our commercialization preparations for ganaxolone’s potential launch in CDKL5 deficiency disorder, and expanding our novel formulation development work. We are also looking to expand our oral and IV franchises into new target therapeutic indications with significant unmet medical need and a strong scientific rationale for the use of ganaxolone.”

“Based on the progress to date, as well as our analysis of all prior studies in a number of epilepsy indications, we believe that the oral formulation of ganaxolone has the potential to become an important drug in a variety of rare, pediatric seizure disorders, a tremendous complement to our expanding IV franchise,” Dr. Braunstein said.

Dr. Braunstein added, “In December, we raised $70 million, ending the year with $140 million of cash on hand, which provides financial support for our ongoing clinical trials, commercial planning and portfolio development. We continue to add talent throughout the organization, including in our commercial, clinical, legal, regulatory, and operations areas. Our focus remains on realizing ganaxolone’s potential to help those suffering from rare seizure disorders.”

For earnings history and earnings-related data on Marinus Pharma (MRNS) click here.

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