Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS), a pharmaceutical company dedicated to the development of innovative therapeutics to treat seizure disorders, recently granted inducement awards to two new employees. The Compensation Committee of the Board of Directors approved the grant of non-qualified stock options to purchase an aggregate of 20,400 shares of the Company’s Common Stock, as a way to welcome and reward the new employees for joining the team.
The Marinus team was pleased to grant stock options to their new employees with an exercise price of $4.64 per share, the same as the closing price of their Common Stock on January 6, 2023. These stock options will vest and become exercisable in a staggered approach. After the one-year anniversary of the employee’s start date, 25% of the underlying shares will vest, and the remaining 75% will vest in 36 equal monthly installments on each monthly anniversary, provided that the employee remains employed with Marinus. These stock options were granted as an incentive for the employees entering into employment with Marinus, and are subject to the terms and conditions of the applicable award agreement.
About Marinus Pharmaceuticals
Marinus Pharmaceuticals takes pride in being a commercial-stage pharmaceutical company that strives to develop innovative therapeutics for seizure disorders. ZTALMY® (ganaxolone) oral suspension CV, their approved product by the U.S. FDA, is a breakthrough treatment option for CDKL5 deficiency disorder in patients two years of age and older. Furthermore, the potential of ganaxolone is being evaluated in other rare seizure disorders, with promising results from Phase 3 trials in tuberous sclerosis complex and refractory status epilepticus. Ganaxolone, a neuroactive steroid GABAA receptor modulator, is being developed in both IV and oral formulations to offer a wider range of therapeutic options for both adult and pediatric acute and chronic care settings.
This press release contains statements concerning Marinus Pharmaceuticals, Inc. which may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, our clinical development programs, future results, performance or achievements. Marinus does not undertake any obligation to update any forward-looking statements, and readers are cautioned not to place undue reliance on these forward-looking statements. For more information about the risks and uncertainties that may affect Marinus’ business, please refer to the company’s filings with the Securities and Exchange Commission.