Marinus Pharmaceuticals, Inc. (MRNS) Thursday said Phase 3 TrustTSC study evaluating oral ganaxolone for the treatment of seizures associated with tuberous sclerosis complex (TSC) did not meet primary goal. The company's shares were down more than 70 percent in pre-market.
The primary endpoint of the study was reduction in 28-day frequency of TSC-associated seizures. The median reduction in frequency of TSC-associated seizures in patients treated with ganaxolone was 19.7 percent, which is not statistically significant, compared to 10.2 percent for those on placebo.
The company said it plans to discontinue further development of ganaxolone, and also taking steps to reduce costs including cutting jobs. It has also started to explore strategic alternatives, and engaged Barclays as an advisor to assist in the process.
Marinus stock had closed at $1.69, down 3.43 percent on Wednesday. It has traded in the range of $1.05 - 11.26 in the last 1 year.
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