Marinus to sell rare-disease voucher to Novo Nordisk for $110 million

Shares of Marinus Pharmaceuticals Inc. gained 7.9% in premarket trading on Thursday after the company said it plans to sell its Rare Pediatric Disease Priority Review Voucher for $110 million to Novo Nordisk . Marinus CFO Steven Pfanstiel told investors in a news release that the sale “extends our cash runway into the fourth quarter of 2023.” Marinus received the voucher in March after it received approval from the Food and Drug Administration for Ztalmy, its treatment for seizures associated with a rare form of epilepsy. The company’s stock has tumbled 53.3% this year, while the S&P 500 is down 20.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.