Mar­i­nus lays off 20% of work­force, cuts costs to stay afloat

Mar­i­nus Phar­ma­ceu­ti­cals is cut­ting about 20% of its work­force and mak­ing oth­er cost-cut­ting changes to ex­tend its cash run­way in­to the first quar­ter of 2025.

The com­pa­ny said Wednes­day that it had cash, cash equiv­a­lents and short-term in­vest­ments of $113.3 mil­lion as of March 31. It’s stop­ping en­roll­ment in the RAISE and RAISE II tri­als for ganax­olone, de­fer­ring an in­vest­ment in IV ganax­olone man­u­fac­tur­ing, lay­ing off em­ploy­ees, cut­ting R&D and G&A func­tions, and mak­ing “oth­er op­er­a­tional changes.” It had 165 em­ploy­ees as of Dec. 31.

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