MARINUS PHARMACEUTICALS ANNOUNCES INDUCEMENT GRANTS UNDER NASDAQ LISTING RULE 5635(C)(4)

RADNOR, Pa., March 23, 2020 (GLOBE NEWSWIRE) -- Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) (the “Company”, “Marinus”), a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders, today announced the grant of inducement awards to three new employees. The Compensation Committee of the Board of Directors of Marinus granted the new employees non-qualified stock options to purchase an aggregate of 228,500 shares of its common stock and an aggregate of 21,000 shares of restricted common stock, as inducement awards material to each employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $1.44 per share, which is equal to the closing price of Marinus’s common stock on March 17, 2020, the date of grant. The stock options will vest and become exercisable as to 25% of the underlying shares on the one-year anniversary of each recipient's start date, and will vest and become exercisable as to the remaining 75% of the underlying shares in 36 equal monthly installments at the end of each month following such anniversary, subject to the employee's continued employment with Marinus on such vesting dates. The restricted common stock vests 50% on March 17, 2021 and the remaining 50% on March 17, 2022. The stock options and restricted common stock 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 the applicable award agreements covering the grants.

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 pivotal trials in children with CDKL5 deficiency disorder and PCDH19-related epilepsy. Later this year, the Company intends to initiate a Phase 3 trial in SE and a Phase 2 trial in Tuberous Sclerosis Complex (TSC), respectively. For more information visit www.marinuspharma.com. Please follow us on Twitter: @MarinusPharma.