Baird lowered the firm’s price target on Marinus Pharmaceuticals (MRNS) to 50c from $2 and keeps a Neutral rating on the shares. The firm notes that the company announced this morning that Phase 3 study of ganaxolone in TSC failed, and as a result the company will be exploring strategic alternatives. This update removes the potential for a Ztalmy label expansion that could support more meaningful revenues beyond CDD alone.
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