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Marinus Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Marinus Pharmaceuticals, Inc. (Nasdaq: MRNS) (the "Companya?? or "Marinusa??), a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders, today announced the grant of inducement awards to seven new employees. The independent members of the Board of Directors of Marinus approved the grant of non-qualified stock options to purchase an aggregate of 453,500 shares of its common stock as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).


Of these stock option grants, 293,500 have an exercise price of $1.77 per share, which is equal to the closing price of Marinusa?? common stock on August 5, 2020, the date of grant for the stock options. The remaining 165,000 stock options will be priced on the applicable employeea??s start date. All of the stock options will vest and become exercisable as to 25% of the underlying shares on the one-year anniversary of the employeea??s start date of employment, and will vest and become exercisable as to the remaining 75% of the underlying shares in 36 equal monthly installments at the end of each month following such anniversary, subject to the employeea??s continued employment with Marinus on such vesting dates. The stock options were granted as an inducement material to the employee entering into employment with Marinus in accordance with Nasdaq Listing Rule 5635(c)(4), and are subject to the terms and conditions of the applicable award agreement covering such grant.


About Marinus Pharmaceuticals


Marinus Pharmaceuticals, Inc. is a pharmaceutical company dedicated to the development of innovative therapeutics to treat rare seizure disorders. Ganaxolone is a positive allosteric modulator of GABAA receptors that acts on a well-characterized target in the brain known to have anti-seizure, anti-depressant, and anti-anxiety effects. Ganaxolone is being developed in IV and oral dose forms intended to maximize therapeutic reach to adult and pediatric patient populations in both acute and chronic care settings. Marinus is conducting the first ever Phase 3 pivotal trial in children with CDKL5 deficiency disorder, along with a Phase 2 trial in Tuberous Sclerosis Complex, and a Phase 2 biomarker driven proof of concept trial in PCDH19-related epilepsy. The Company intends to initiate a Phase 3 trial in status epilepticus. For more information visit www.marinuspharma.com.


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