Introduction
Marinus Pharmaceuticals (MRNS) on December 10 announced top-line results from their PhII trials evaluating both IV and oral ganaxolone for the treatment of post-partum depression ('PPD'). PPD occurs in an estimated 200-550k women every year in the U.S., with no approved treatments and only 2 companies developing viable therapies at present - Marinus and Sage Therapeutics (SAGE).
A back-of-the-envelope calculation demonstrates why the 2-player market in PPD is such an exciting investment prospect: if we accept that roughly 500k women present with PPD every year in the U.S. and if