Buy Rating Affirmed: Marinus Pharmaceuticals’ Advancements and Long-term Patent Protection Signal Strong Prospects

JMP Securities analyst Jason Butler has reiterated their bullish stance on MRNS stock, giving a Buy rating on May 9.

Jason Butler has given his Buy rating due to a combination of factors regarding Marinus Pharmaceuticals’ ongoing progress and recent developments in their clinical trials. First, the completion of enrollment for the Phase 3 TrustTSC trial is a significant milestone that stays on track for results in the first half of the fourth quarter of 2024. This, coupled with the U.S. Patent and Trademark Office granting a new patent for the treatment of tuberous sclerosis complex (TSC) with ganaxolone, extending protection until 2040, underpins the potential for long-term commercial exclusivity.

The design of the Phase 3 TrustTSC trial, which aims to demonstrate a 25% treatment effect in reducing seizure frequency in TSC patients, shows a high likelihood of success given its 90% power. The improved trial design, which includes a titration period to minimize adverse events related to somnolence, has already shown a low discontinuation rate due to these events. This suggests an enhanced tolerability profile compared to previous studies. The anticipated positive results could pave the way for a supplementary New Drug Application (sNDA) submission by April 2025, with the possibility of obtaining a priority review, further solidifying Butler’s confidence in the stock’s outlook.

In another report released on May 9, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $4.00 price target.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRNS in relation to earlier this year.

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Marinus (MRNS) Company Description:

Marinus Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the identification and development of neuropsychiatric therapeutics. Its clinical stage drug product candidate, ganaxolone, is a positive allosteric modulator being developed in three different dose forms: intravenous, capsule, and liquid. The company was founded by Geoffrey E. Chaiken, Harry H. Penner Jr., Vincent A. Pieribone and Kenneth R. Shaw on August 14, 2003 and is headquartered in Radnor, PA.