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

RADNOR, Pa., June 16, 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 an inducement award to a new employee. The Compensation Committee of the Board of Directors of Marinus granted Martha Manning, Esq., the Company’s new Vice President, General Counsel and Secretary, a non-qualified stock option to purchase an aggregate of 300,000 shares of its common stock as an inducement material to Ms. Manning entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock option grant has an exercise price of $2.52 per share, which is equal to the closing price of Marinus’ common stock on June 15, 2020, the date of grant for the stock option. The stock option will vest and become exercisable as to 25% of the underlying shares on the one-year anniversary of the date of grant, 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 Ms. Manning’s continued employment with Marinus on such vesting dates. The stock option was granted as an inducement material to Ms. Manning entering into employment with Marinus in accordance with Nasdaq Listing Rule 5635(c)(4), and is subject to the terms and conditions of the applicable award agreement covering such grant.

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 Phase 3 pivotal trial in children with CDKL5 deficiency disorder, along with a Phase 2 trial in Tuberous Sclerosis Complex, and a Phase 2 biomarker driven proof of concept trial in PCDH19-related epilepsy. The Company intends to initiate a Phase 3 trial in status epilepticus. For more information visit www.marinuspharma.com.