Why Is Marinus Pharmaceuticals (MRNS) Stock Down 79% Today?


  • Marinus Pharmaceuticals (MRNS) stock is falling on Monday alongside Phase 3 trial data.
  • The company didn’t meet the requirements for early stopping.
  • That has traders wary, with heavy trading pulling MRNS down today.
MRNS Stock - Why Is Marinus Pharmaceuticals (MRNS) Stock Down 79% Today?

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Marinus Pharmaceuticals (NASDAQ:MRNS) stock is taking a beating on Monday after the pharmaceutical company announced results from a Phase 3 clinical trial.

It’s bad news for MRNS stockholders today as the Phase 3 trial of intravenous ganaxolone as a treatment for refractory status epilepticus (RSE) failed to meet some expectations. The company was hoping for the drug to meet the criteria for early stopping of the trial.

Without that, the company won’t have the final results from the Phase 3 trial until the summer. The company also remains blind to the data and is continuing the trial at the recommendation of an independent Data Monitoring Committee.

Marinus Chairman and CEO Scott Braunstein said this about the news:

“While we are disappointed that RAISE did not meet the early stopping criteria, we will only be able to determine the trial’s outcome once we unblind and analyze the full data set […] We will also be evaluating potential cost-saving strategies to provide the strongest capital position as we approach enrollment completion in the global Phase 3 TrustTSC trial in tuberous sclerosis complex.”

How This Affects MRNS Stock Today

With this news comes heavy trading of MRNS stock as investors sell shares. That has more than 13 million units traded as of this writing. This is higher than its daily average trading volume of about 443,000 shares.

MRNS stock is down 78.9% as of Monday morning.

Investors will find more of the most recent stock market stories ready to go below!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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