According to the Complaint, Marinus Pharmaceuticals, Inc. describes itself as a “commercial-stage pharmaceutical company dedicated to the development of innovative therapeutics for the treatment of seizure disorders, including rare genetic epilepsies and status epilepticus, which includes the use of ZTALMY® (ganaxolone).” Pertinent to this action is the Randomized Therapy in Status Epilepticus trial (RAISE), which the Company has described as a “pivotal Phase 3 trial in refractory status epilepticus (RSE) patients.”

The Complaint alleges that Defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants understated the risk of failure to meet the early-stopping criteria in the RAISE trial; (2) Defendants did not disclose that a possible consequence of failing to meet the early stopping criteria in the RAISE trial would be that Marinus would stop the separate Phase 3 RAISE II trial; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.