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Dec 31, 2022
Marinus Pharmaceuticals Q4 2022 Earnings Report
Marinus Pharmaceuticals reported results for Q4 2022, marked by ZTALMY U.S. net product revenue of $2.3 million and collaboration revenue of $3.0 million.
Key Takeaways
Marinus Pharmaceuticals reported Q4 2022 financial results, featuring $2.3 million in ZTALMY U.S. net product revenue and $3.0 million in collaboration revenue. The company's cash and cash equivalents stood at $240.6 million as of December 31, 2022, expected to fund operations into the second half of 2024.
ZTALMY U.S. net product revenue reached $2.3 million for Q4 2022.
Cash and cash equivalents totaled $240.6 million as of December 31, 2022.
Collaboration revenue was $3.0 million in Q4 2022 due to the Tenacia agreement.
Phase 3 clinical trials in refractory status epilepticus and tuberous sclerosis complex are actively recruiting, with data expected in 2H 2023 and Q1 2024, respectively.
Marinus Pharmaceuticals
Marinus Pharmaceuticals
Forward Guidance
Marinus Pharmaceuticals anticipates ZTALMY U.S. net product revenues between $15 million and $17 million, BARDA revenues ranging from $8 million to $11 million, and total GAAP operating expenses between $165 million and $175 million for the fiscal year 2023.
Positive Outlook
- ZTALMY U.S. net product revenues are projected to be between $15 million and $17 million.
- BARDA revenues are expected to be in the range of $8 million to $11 million.
- Second generation oral formulation development continues to advance.
- Phase 3 clinical trials in refractory status epilepticus and tuberous sclerosis complex are actively recruiting.
- Modified IV formulation of ganaxolone with new buffer is expected to incorporate in RAISE trial in Q2 2023.
Challenges Ahead
- Total GAAP operating expenses, inclusive of SG&A and R&D, are expected to be in the range of $165 to $175 million.
- The Committee for Medicinal Products for Human Use (CHMP) is expected to present its opinion on the MAA in the second quarter of 2023, and it could be negative.
- The company's net losses were $34.3 million for the three months ended December 31, 2022.
- The company's loss from operations was $(29,212,000).
- The company's loss before income taxes was $(32,675,000).