08:03 AM EDT, 06/17/2024 (MT Newswires) -- Marinus Pharmaceuticals ( MRNS ) said on Monday that its experimental drug, intravenous ganaxolone, aimed at treating refractory status epilepticus - a condition where seizures persist despite standard treatments - did not achieve one of its primary goals in a Phase 3 study, sending shares down by 8.5% in premarket trading.

Marinus said IV ganaxolone did not show statistically significant results in preventing patients from progressing to IV anesthesia within 36 hours compared to placebo. However, it added that the drug did meet its other co-primary endpoint, with a statistically significant proportion of patients experiencing cessation of status epilepticus within 30 minutes of starting treatment compared to placebo.

The company said it will continue to analyze the entire dataset from the Phase 3 study and engage with the U.S. Food and Drug Administration to discuss a potential path forward for IV ganaxolone.

Marinus expects cash and cash equivalents to be sufficient to fund its operating expenses, including capital expenditures and working capital requirements, into Q2 2025.

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