Marinus Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

RADNOR, Pa., April 27, 2020 (GLOBE NEWSWIRE) -- Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) (the “Company” or “Marinus”), a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders, today announced the grant of inducement awards to two new employees. A majority of the independent members of the Board of Directors of Marinus granted the new employees non-qualified stock options to purchase an aggregate of 45,500 shares of its common stock as inducement awards material to each employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

One of the stock option grants has an exercise price of $1.79 per share, which is equal to the closing price of Marinus’ common stock on April 15, 2020, the date of grant for that stock option. The other stock option grant will have an exercise price equal to the closing price of Marinus’ common stock on its date of grant, which is April 29, 2020. 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 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 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.