- Marinus Pharmaceuticals ( NASDAQ: MRNS ) on Monday said it had closed on the sale of a U.S. FDA voucher for $110M.
- The voucher, called the Rare Pediatric Disease Priority Review Voucher, entitles MRNS to a priority review from the agency and proceeds to carry out its drug development activities with an aim to treat rare pediatric diseases.
- MRNS said it had received the $110M of gross funds, which are in addition to the $92.3M the had reported in cash and cash equivalents as of June 30.
- The company said it would use the proceeds from the closing of the sale on the voucher for the commercial launch of seizure treatment Ztalmy, execution of its phase 3 clinical programs and other general expenditures.
- With the addition of this funding, MRNS said it now expects to fund its expenses and requirements and maintain the minimum cash balance required under its debt facility into Q4 2023.
- MRNS stock +4.2% to $6.97 after hours.
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Marinus Pharma closes on sale of a U.S. FDA priority review voucher for $110M