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Marinus Pharmaceuticals (NASDAQ:MRNS) shares jumped 11% in midday trading Tuesday after the company issued updates on its financial position, pipeline and guidance at an investor event.
The biotech company said it has extended its cash runway into Q4 2024 and expects to end Q3 with $170M to $175M in cash and equivalents. The company’s anti-seizure medication Ztalmy, also known as ganaxolone, is expected to generate net revenue of $5M to $5.2M for Q3 and $17M to $18.5M for 2023.
Marinus also expects to report topline Phase 3 data for ganaxolone in the treatment of status epileptus in Q1 and Phase 3 data for the drug in the treatment of tuberous sclerosis complex in mid-2024, according to the company.
