Marinus Pharmaceuticals Inc (NASDAQ:MRNS) has provided an update regarding its clinical development activities as well as financial results for the year ended December 31, 2017. From the report, the biopharmaceutical company has had significant achievements relating to the development of innovative therapeutics. According to the company’s chief executive officer, Christopher M. Cashman, Marinus obtained an incredible position for important data readouts.
Cashman noted, “The data obtained last September from our study in children with CDKL5 deficiency disorder were impressive.” He went further to explain that the data would help them in decision making as they look forward to advancing ganaxolone into late-stage development in 2018. The company expects to initiate the program later in the year.
Marinus’ focus is on being able to meet the needs of underserved patient populations
The company has come a long way in its goal of providing treatments at reasonable standards. Together with the CDKL5 community of caregivers, the biotech is excited to be part of the first ever late-stage clinical trial. The trial is targeting children suffering from CDKL5 deficiency disorder and debilitating epilepsy. Apparently, the two conditions do not have approved treatments.
Marinus also has two phase 2 studies targeting women suffering from severe and moderate PPD. The studies will be generating data with IV and oral regimens of ganaxolone later in the year. Cashman explains that the company’s agenda is setting appropriate, safe, effective and patient-convenient treatment regimens.
The financial report for the year ended December 31, 2017
It is worth noting that the company’s research and development expenses decreased to $12.4 million compared to the $22.0 million spent in the previous year. The decrease was as a result of a discontinuation of drug-resistant focal onset seizures program. The company further sold $0.4 million in state research and development tax credits and the proceeds used to offset research and development expenses.
The cash, cash equivalents, and investments were at $58.4 million, compared to $30.1 million at December 31, 2016. However, there was an increase in the general and administrative expenses from $0.4 million in 2016 to $6.7 million in 2017.
All said and done, the company has engaged in serious talks with regulatory agencies as it seeks to initiate a global, pivotal study in mid-2018.