NEW YORK, Aug. 03, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Marinus Pharmaceuticals, Inc. (“Marinus” or the “Company”) (NASDAQ: MRNS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Marinus and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until August 5, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Marinus securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On April 15, 2024, Marinus issued a press release entitled “Marinus Pharmaceuticals Provides Update on the Phase 3 RAISE Trial and Reports Preliminary First Quarter 2024 Financial results.” The press release disclosed that the Company’s “pivotal Phase 3 RAISE trial evaluating intravenous (IV) ganaxolone for the treatment of refractory status epilepticus (RSE)” had not met early stopping criteria and also that the Company would implement “cost reduction activities to extend [its] cash runway beyond the fourth quarter of 2024[.]”
On this news, Marinus’s stock price fell $6.32 per share, or 84.04%, over the following two trading sessions, to close at $1.20 per share on April 16, 2024.
Then, on May 8, 2024, Marinus issued a press release announcing that “Marinus has stopped the Phase 3 Raise II trial in RSE” and that “future development in RSE will be assessed following review of the RAISE topline data[.]”
On this news, Marinus’s stock price fell $0.14 per share, or 8.91%, to close at $1.43 per share on May 8, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
