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Scott Braunstein, Chairman and CEO of Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS), recently executed several stock transactions, according to a filing with the Securities and Exchange Commission. The transactions come as the stock has experienced a significant 94.55% decline over the past year, according to InvestingPro data. Braunstein sold a total of 304,600 shares of Marinus common stock for approximately $167,530. The shares were sold at a price of $0.55 each, as part of a merger agreement with Immedica Pharma AB. With analyst price targets ranging from $0.30 to $2.00, InvestingPro subscribers can access comprehensive analysis and 10+ additional key insights about the company’s financial health and prospects.
Additionally, Braunstein purchased 5,933 shares of Marinus common stock on August 14, 2024, at an average price of $1.10 per share, totaling $6,526. This transaction was part of a Rule 10b5-1 plan adopted to cover tax obligations related to restricted stock units.
The transactions reflect Braunstein’s direct ownership in Marinus Pharmaceuticals, which is headquartered in Radnor, Pennsylvania.
In other recent news, Marinus Pharmaceuticals has been the center of several significant developments. The company’s acquisition by Immedica Pharma is nearing completion, with a tender offer of $0.55 per share. This acquisition, valued at approximately $151 million, is expected to finalize in the first quarter of 2025. Analyst Brian Skorney from Baird has maintained a Neutral rating on Marinus stock, reflecting the upcoming acquisition.
Marinus also recently terminated its collaboration and supply agreements with Orion Corporation, marking a significant shift in its business relationships. This move aligns with Marinus’s ongoing strategic review of its alternatives. Additionally, Marinus has initiated a retention plan for its senior executives, incentivizing them to remain with the company during the exploration of strategic alternatives.
Finally, Marinus has received deficiency notices from The Nasdaq Stock Market, indicating a potential risk of delisting due to failing to meet the minimum bid price and market value of listed securities requirements. The company has until June 4, 2025, to regain compliance. These recent developments highlight a period of substantial change for Marinus Pharmaceuticals.
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