RADNOR, Pa., Feb. 14, 2020 (GLOBE NEWSWIRE) -- Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) (the "Company", "Marinus"), a biopharmaceutical company dedicated to the development of innovative therapeutics to treat epilepsy and neuropsychiatric disorders, today announced that the Board of Directors of Marinus granted non-qualified stock options to purchase an aggregate of 60,000 shares of its common stock to new employees, with a grant date of February 5, 2020.
The options have an exercise price of $2.13 per share, which is equal to the closing price of Marinus's common stock on February 5, 2020, the date of grant. The options will vest and become exercisable as to 25 percent of the shares on the one-year anniversary of the recipient's start date, and will vest and become exercisable as to the remaining 75 percent of the shares in 36 equal monthly installments at the end of each month following the anniversary, subject to the employee's continued employment with Marinus on such vesting dates. The stock options were granted as inducements material to the new employees entering into employment with Marinus in accordance with NASDAQ Listing Rule 5635(c)(4), and are subject to the terms and conditions of a stock option agreement covering the grant.
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 GABAA 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. Based on results from a recent Phase 2 study in refractory SE and from biomarker analysis research, the Company intends to initiate later this year a Phase 3 study in SE and a Phase 2 study in Tuberous Sclerosis Complex (TSC), respectively. For more information visit www.marinuspharma.com.
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