On Thursday, Oppenheimer maintained a Perform rating and a $9.00 stock price target for Marinus (NASDAQ:MRNS) Pharmaceuticals (NASDAQ:MRNS), following a patent dispute. The focus is on the company's patent related to intravenous ganaxolone (GNX) administration in refractory status epilepticus (RSE). Marinus's shares saw a slight increase of 1% in contrast to the Nasdaq Biotechnology Index (NBI), which rose by 2%.
The defense presented by Marinus for its patent No. 11,110,100 ('100 patent) suggests confidence in its robustness, especially considering the results from a Phase 2 study. This study provided significant pharmacokinetic insights that have informed the ongoing Phase 3 RAISE trial's dosing regimen.
The company believes its intellectual property (IP) protection is strong, which is an important factor as it anticipates the trial's top-line results expected in April or early May.
Oppenheimer also touched on the potential outcome of the Patent Trial and Appeal Board's (PTAB) decision regarding OVID's patent No. 11,395,817 ('817 patent). The analyst firm anticipates a ruling that may invalidate the remaining claims of OVID's patent, expected to be announced sometime in mid-2024. Such an event could further solidify Marinus's IP position in the market.
The ongoing patent dispute involves an Inter Partes Review (IPR) challenge by OVID Therapeutics to Marinus's '100 patent. Despite this challenge, the market's reaction suggests a consensus that the attempt is unlikely to succeed. Investors and industry watchers are closely monitoring the situation, given the potential implications for Marinus's future market position and the development of its RSE treatment.
As the pharmaceutical industry continues to monitor the developments in this case, Marinus's steady IP footing and the upcoming Phase 3 RAISE trial results are key factors to watch. The trial outcomes will provide further clarity on the efficacy of Marinus's treatment and potentially reinforce the company's standing in the market for RSE therapies.
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