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Jun 30, 2023
Marinus Pharmaceuticals Q2 2023 Earnings Report
Marinus Pharmaceuticals reported second-quarter results, highlighted by ZTALMY net product revenue of $4.2 million and increased full-year revenue guidance.
Key Takeaways
Marinus Pharmaceuticals reported its second-quarter financial results, featuring a net product revenue of $4.2 million from ZTALMY. The company increased its full-year 2023 net product revenue guidance to between $17 and $18.5 million. The European Commission approved ZTALMY in CDKL5 deficiency disorder. The company's cash runway is expected into the second half of 2024, with $175.3 million in cash, cash equivalents, and short-term investments as of June 30, 2023.
ZTALMY net product revenue reached $4.2 million in the second quarter.
Full-year 2023 net product revenue guidance increased to $17 to $18.5 million.
European Commission approved ZTALMY for CDKL5 deficiency disorder.
Cash runway expected into the second half of 2024 with $175.3 million in cash, cash equivalents, and short-term investments as of June 30, 2023.
Forward Guidance
Marinus Pharmaceuticals updated its revenue and operating expense guidance for the fiscal year 2023.
Positive Outlook
- ZTALMY net product revenues are now expected to be between $17 and $18.5 million.
- BARDA revenues are now expected to be between $11 and $12 million.
- GAAP operating expenses, inclusive of G&A and R&D, are expected to be in the range of $160 to $165 million.
- Stock-based compensation is expected to be approximately $15 million.
- Cash, cash equivalents, and short-term investments of $175.3 million as of June 30, 2023, are expected to be sufficient to fund operating expenses into the second half of 2024.
Challenges Ahead
- Unexpected results or delays in the commercialization of ZTALMY.
- Unexpected market acceptance, payor coverage or future prescriptions and revenue generated by ZTALMY.
- Unexpected actions by the FDA or other regulatory agencies with respect to our products.
Historical Earnings Impact
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