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Sep 30, 2024
Marinus Pharmaceuticals Q3 2024 Earnings Report
Marinus Pharmaceuticals reported Q3 2024 financial results and provided a business update.
Key Takeaways
Marinus Pharmaceuticals reported Q3 2024 net product revenue of $8.5 million, a 56% increase compared to Q3 2023. The company is narrowing its full-year 2024 ZTALMY net product revenue guidance to $33 to $34 million. Marinus has commenced a process to explore strategic alternatives and implemented cost reduction plans, with cash runway expected into Q2 2025.
ZTALMY net product revenue reached $8.5 million in Q3 2024, representing a 56% increase year-over-year.
Full-year 2024 ZTALMY net product revenue guidance narrowed to $33 to $34 million.
Marinus is exploring strategic alternatives to maximize stockholder value.
Cost reduction plans have been implemented, extending the cash runway into Q2 2025.
Marinus Pharmaceuticals
Marinus Pharmaceuticals
Forward Guidance
Marinus Pharmaceuticals narrowed its full year 2024 ZTALMY net product revenue guidance to $33 to $34 million and combined selling, general and administrative (SG&A) and research and development (R&D) expenses in the range of approximately $135 to $138 million.
Positive Outlook
- Continued commercial growth of ZTALMY.
- Meeting with FDA to discuss a potential path forward for IV ganaxolone in refractory status epilepticus.
- Focus on supporting the commercial growth of ZTALMY.
- Cost reduction activities initiated.
- Exploring strategic alternatives to maximize stockholder value.
Challenges Ahead
- Phase 3 TrustTSC trial did not achieve statistical significance in the primary endpoint.
- Suspension of further ganaxolone clinical development.
- Workforce reduction of approximately 45%.
- Cash runway expected into Q2 2025.
- Net losses reported for the three and nine months ended September 30, 2024.