Marinus Pharmaceuticals to Reduce Workforce and Explore Strategic Alternatives Following Disappointing Trial Results

Workforce Reduction:
Marinus Pharmaceuticals is planning to reduce its workforce as part of a broader cost-cutting plan, following disappointing results from a Phase 3 trial of its drug Ztalmy (oral ganaxolone).

Strategic Alternatives:
The company has initiated a process to explore strategic alternatives aimed at maximizing value for its stockholders, indicating potential significant changes in its operational or ownership structure.

Trial Results:
The Phase 3 TrustTSC trial of oral ganaxolone in tuberous sclerosis complex did not meet its primary endpoint, leading to a decline in the company's stock price.

Previous Layoffs:
Marinus had previously announced a 20% workforce reduction in May 2024 as part of a cost-cutting plan, indicating ongoing financial challenges.

Industry Context:
The biotech industry has seen a significant increase in layoffs in 2024, with several companies, including Pfizer, Takeda, and Gilead, announcing workforce reductions to cut costs and improve efficiency.