RADNOR, Pa., (GLOBE NEWSWIRE) -- Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders, today announced the pricing of an underwritten public offering of 16,000,000 shares of its common stock at a public offering price of $2.50 per share. The gross proceeds of the offering to the Company are expected to be approximately $40,000,000, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, Marinus has granted the underwriters a 30-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

The closing of the offering is expected to occur on or about June 2, 2020, subject to the satisfaction of customary closing conditions.

Cowen and Cantor Fitzgerald & Co. are acting as lead book-running managers for the offering. SunTrust Robinson Humphrey is acting as a bookrunner for the offering. Oppenheimer & Co. Inc. is acting as lead manager for the offering. H.C. Wainwright & Co. is acting as co-manager for the offering.

Marinus intends to use the net proceeds of the offering to fund the development of its product candidates and for general corporate purposes, which may include working capital, capital expenditures, research and development expenditures, clinical trial expenditures, acquisitions of new technologies, products or businesses, and investments.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc. is a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders. Ganaxolone is a positive allosteric modulator of GABA_A receptors 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 Phase 3 pivotal trial in children with CDKL5 deficiency disorder, along with a Phase 2 trial in Tuberous Sclerosis Complex, and a Phase 2 biomarker driven proof of concept trial in PCDH19-related epilepsy. The Company intends to initiate a Phase 3 trial in status epilepticus.