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MRNS.US
id: 1245

Marinus Pharmaceuticals (MRNS) Failed Clinical Trial Case

E.D. Pennsylvania
Court
2:24-cv-02430
Case number
17 Mar 2021
Class period Start
07 May 2024
Class period End
05 Aug 2024
Lead Plaintiff motion deadline
  • $MRNS stockholder filed a claim against Marinus Pharmaceuticals for hiding the risks and potential failure of the RAISE clinical trial.
  • On April 15, 2024, on announcement of RAISE trial setback, $MRNS plummeted 82%, losing $341M+ in shareholder value.
  • Marinus investors can join this case to be notified about potential recovery.
Case Details:

On April 15, 2024, Marinus Pharmaceuticals issued a press release revealing that the RAISE trial had not met early stopping criteria and also that the Company would implement cost-saving measures.

On this news, $MRNS plummeted 82% losing $341M+ in shareholder value, and continued its decline on April 16, falling 7% and losing another $5.4M+.

On May 8, 2024, Marinus announced halting RAISE and RAISE II trials, a 20% workforce reduction, and other efficiency measures.

Moreover, Fierce Biotech reported Marinus laying off 20% of staff due to Phase 3 RAISE trial struggles.

On this news, $MRNS fell 8.91% that same day.

Based on these events, $MRNS stockholder filed a claim against Marinus and its leaders, accusing them of the following:
  • Marinus downplayed the risk of failing early-stopping criteria in the RAISE trial.
  • They also didn't disclose that failing could stop the Phase 3 RAISE II trial.
Considering all the representations, investors suspect Marinus hid the risks and potential failure of the RAISE clinical trial.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
15 April 2024
Filing date
05 June 2024
Lead Plaintiff Deadline
05 August 2024
Collecting participants…