RADNOR, Pa., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS), announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Marinus. Marinus also expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares to be issued and sold in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Concurrently with the completion of the public offering, the Company expects to sell to certain investors in a private placement, a number of shares of convertible preferred stock equal to an aggregate purchase price of up to approximately $30 million, at a price equal to the public offering price.

Oppenheimer & Co. Inc. and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., (NYSE American: LTS), are acting as joint bookrunning managers for the offering.

Marinus intends to use the net proceeds received from the public offering and concurrent private placement to advance the preclinical and clinical development of ganaxolone, including expenses for clinical trials for our seizure disorder programs, and regulatory, research and development, pre-commercial, general and administrative and manufacturing expenses and for working capital and general corporate purposes.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc. is a pharmaceutical company dedicated to the development of ganaxolone, which offers a new mechanism of action, demonstrated efficacy and safety, and convenient dosing to improve the lives of patients suffering from epilepsy and depression. Ganaxolone is a positive allosteric modulator of GABA_A that acts on a well-characterized target in the brain known to have anti-seizure, anti-depressant and anti-anxiety effects. Ganaxolone is being developed in IV and oral dose forms intended to maximize therapeutic reach to adult and pediatric patient populations in both acute and chronic care settings. Marinus is conducting the first ever pivotal studies in children with CDKL5 deficiency disorder and PCDH19-related epilepsy and has recently released top-line data from Phase 2 studies in women with postpartum depression and patients with refractory status epilepticus.