RADNOR, PA — Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a biopharmaceutical company focused on innovative treatments for seizure disorders, has announced a significant increase in Q1 2024 revenues and provided updates on ongoing clinical trials and financial strategies.
In the first quarter ended March 31, 2024, Marinus reported that its flagship product, ZTALMY® (ganaxolone), generated net revenues of $7.5 million, marking a substantial 125% growth compared to the same period in 2023. This performance has prompted the company to revise its full-year 2024 U.S. revenue projections for ZTALMY, now expecting them to fall between $33 and $35 million.
Marinus is currently conducting a Phase 3 trial named TrustTSC for treating tuberous sclerosis complex (TSC), a genetic disorder that causes non-malignant tumors to form in many different organs. The company expects to complete enrollment for this trial by mid-May, with top-line data anticipated in the first half of Q4 2024. Furthermore, results from the Phase 3 RAISE trial, which focuses on another aspect of seizure disorders, are expected to be released early in the summer of 2024.
To ensure financial stability and extend its operational runway, Marinus has implemented cost reduction plans aimed at preserving cash through late Q1 2025. As of March 31, 2024, the company reported having $113.3 million in cash, cash equivalents, and short-term investments.
“Our unwavering commitment is to develop innovative treatment options for individuals with seizure disorders,” stated Scott Braunstein, M.D., Chairman and Chief Executive Officer of Marinus. He underscored the commercial success of ZTALMY in treating CDKL5 Deficiency Disorder (CDD) and the potential market opportunity for the ZTALMY franchise in addressing drug-resistant epilepsies. Dr. Braunstein also highlighted the company’s engagement with the TSC community and its preparations for a potential TSC launch in the second half of 2025.
Anticipation grows as Marinus prepares to announce the RAISE trial results and engage with the FDA to discuss potential filing strategies. This strategic planning, combined with prudent spending and cost-reduction measures, positions Marinus Pharmaceuticals to continue its trajectory of growth while navigating the challenges ahead.
Investors and stakeholders are encouraged to review the company’s detailed quarterly report for a comprehensive understanding of Marinus Pharmaceuticals’ business plans, operations, and financial health.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.