PHILADELPHIA, July 29, 2024 (GLOBE NEWSWIRE) — Attention Marinus Pharmaceuticals, Inc. (“Marinus” or the “Company”) (NASDAQ: MRNS) Investors. A securities fraud class action lawsuit has been filed against Marinus on behalf of purchasers of Marinus securities between March 17, 2021 and May 7, 2024, inclusive (the “Class Period”).
CLICK HERE to learn more about the lawsuit.
Important deadline: Investors who purchased or acquired Marinus securities during the Class Period may, no later than August 5, 2024, seek to be appointed as a lead plaintiff representative of the class.
Marinus describes itself as a “commercial-stage pharmaceutical company dedicated to the development of innovative therapeutics for the treatment of seizure disorders, including rare genetic epilepsies and status epilepticus, which includes the use of ZTALMY® (ganaxolone).” The Randomized Therapy in Status Epilepticus (“RAISE”) trial, is a “pivotal Phase 3 trial in refractory status epilepticus (RSE) patients.”
The truth regarding Marinus’ RAISE trial began to emerge on April 15, 2024, when Marinus issued a press release entitled “Marinus Pharmaceuticals Provides Update on the Phase 3 RAISE Trial and Reports Preliminary First Quarter 2024 Financial results.” In the press release, the Company stated, “While we are disappointed that RAISE did not meet the early stopping criteria, we will only be able to determine the trial’s outcome once we unblind and analyze the full data set.”
Following this news, the price of Marinus stock fell $6.22 per share, or 82.7%, to close at $1.30 per share on April 15, 2024. The next day, the price of Marinus stock fell a further $0.10, or 7.69%, to close at $1.20 on April 16, 2024.
Then, on May 8, 2024, before the market opened, the Company filed with the SEC a current report on Form 8-K. Attached to this Form 8-K was a press release in which the Company announced that it would stop clinical trial enrollment in the RAISE and RAISE II trials.
Following this news, the price of Marinus stock fell $0.14 per share, or 8.91%, to close at $1.43 on May 8, 2024.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Peter Hamner
Berger Montague PC
(215) 875-3048
phamner@bm.net
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