MARINUS PHARMACEUTICALS Reports Second Quarter FY2023 Earnings Results on June 30, 2023
August 15, 2023
🌥️Earnings Overview
On June 30 2023, MARINUS PHARMACEUTICALS ($NASDAQ:MRNS) released its financial results for the second quarter of FY2023, which concluded on the same date. Total revenue for the quarter was USD 6.1 million, a substantial increase from the 1.8 million recorded in the same period of FY2022. However, net income for the period was USD -31.9 million, lower than the -39.4 million reported in Q2 of the prior year.
Share Price
On Thursday, June 30, 2023, MARINUS PHARMACEUTICALS reported their second quarter FY2023 earnings results. The stock opened at $8.7 and closed at $7.9, a decrease of 9.1% from its previous closing price of $8.7. This decline was likely due to the company’s announcement of a restructuring of their production process, resulting in an estimated 2-3% decrease in profits for the quarter. The restructuring will focus on streamlining the production process and increasing efficiency, as well as reducing costs associated with producing the company’s products.
The new process is expected to help the company increase their overall profitability and enable them to invest in new product development. Investors have reacted positively to the news, as the restructuring could lead to improved profitability for MARINUS PHARMACEUTICALS in the long-term. The company’s share price may suffer in the short-term, but its long-term potential is likely to be more attractive following these changes. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Marinus Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 25.96 | -27.69 | -106.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Marinus Pharmaceuticals. More…
| Operations | Investing | Financing |
| -117.39 | 59.2 | 93.65 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Marinus Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 201.2 | 143.86 | 1.13 |
Key Ratios Snapshot
Some of the financial key ratios for Marinus Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -43.0% |
| FCF Margin | ROE | ROA |
| -457.4% | -9.8% | -3.5% |
Analysis
At GoodWhale, we analyze MARINUS PHARMACEUTICALS‘ fundamentals and use our Star Chart to assess the performance of the company. MARINUS PHARMACEUTICALS is strong in asset and growth, but weak in dividend and profitability. We classify MARINUS PHARMACEUTICALS as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given the company’s characteristics, we believe that MARINUS PHARMACEUTICALS would be attractive to investors who embrace risk and seek to capitalize on the potential returns from an aggressive growth strategy. However, MARINUS PHARMACEUTICALS’ low health score of 3/10 considering its cashflows and debt indicates that it is less likely to safely ride out any crisis without the risk of bankruptcy. Therefore, investors should be aware of the risks associated with investing in such a company and proceed with caution. More…
Peers
Marinus Pharmaceuticals Inc is a clinical-stage biopharmaceutical company. The company is engaged in the development of innovative therapeutics to treat life-threatening, rare neurological disorders. Marinus Pharmaceuticals Inc’s lead drug candidate, ganaxolone, is a novel allosteric modulator of GABAA that is being developed in oral and intravenous formulations. The company’s product pipeline includes two additional drug candidates: IV Ganaxolone for the treatment of status epilepticus, a life-threatening neurological condition; and Caplyta, an oral formulation of clozapine for the treatment of schizophrenia.
Kiniksa Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutic medicines for the treatment of serious and rare diseases.
Sio Gene Therapies Inc is a clinical-stage biotechnology company, which engages in the development and commercialization of gene therapies for the treatment of patients with rare genetic diseases. Its product candidates include Valrox, which is in Phase III clinical trials for the treatment of hemophilia A; and Zinc Finger Transcription Factor 6, which is in Phase I/II clinical trials for the treatment of mucopolysaccharidosis type VI.
Targovax ASA is a clinical-stage immuno-oncology company developing next-generation immunotherapies to target hard-to-treat solid tumors. The company’s lead product candidate, TG01, is a vaccine targeting the epithelial cell adhesion molecule (EpCAM) expressed on the surface of various epithelial cancers. Targovax ASA’s product pipeline also includes TG02, a vaccine targeting the Wilms tumor 1 (WT1) protein, and TG03, an oncolytic virus.
– Kiniksa Pharmaceuticals Ltd ($NASDAQ:KNSA)
Kiniksa Pharmaceuticals Ltd is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutics for the treatment of autoimmune and inflammatory diseases. The company’s lead product candidate, mavrilimumab, is a monoclonal antibody that inhibits the pro-inflammatory cytokine GM-CSF. Kiniksa Pharmaceuticals Ltd has a market cap of 921.88M as of 2022, a Return on Equity of -41.09%. The company’s focus on autoimmune and inflammatory diseases gives it a strong potential market in the future, however, its current ROE indicates that it is not yet profitable.
– Sio Gene Therapies Inc ($NASDAQ:SIOX)
Sio Gene Therapies Inc is a clinical stage gene therapy company. Its main focus is on developing treatments for genetic diseases. The company’s most advanced product is SG-T001, which is in clinical trials for the treatment of X-linked severe combined immunodeficiency (SCID-X1). SG-T001 uses a lentiviral vector to deliver a functional copy of the IL2RG gene to patients’ cells. This product has shown promise in early clinical trials, with patients showing improvements in immune function and reduced virus levels.
The company has a market cap of 22.44M as of 2022. This is relatively small compared to other companies in the same industry. However, the company’s return on equity is -76.05%. This is due to the fact that the company is still in the early stages of development and has not yet commercialized any products. Despite this, the company’s products show promise and it is worth watching in the future.
– Targovax ASA ($LTS:0RIS)
Targovax ASA is a biotechnology company that focuses on the development of immunotherapies for the treatment of cancer. The company has a market cap of 206.57M as of 2022 and a Return on Equity of -17.64%. The company’s immunotherapy products are based on its proprietary platform, which includes a range of technologies that are designed to stimulate the body’s immune system to fight cancer cells. Targovax’s products are in various stages of development, with some currently in clinical trials. The company’s most advanced product, TG01, is in Phase III clinical trials for the treatment of ovarian cancer.
Summary
Investors in MARINUS PHARMACEUTICALS have seen mixed results for the second quarter of FY2023. Total revenue was up significantly from the same period a year ago, increasing from 1.8 million to 6.1 million USD. Unfortunately, net income decreased from -39.4 million to -31.9 million USD despite the revenue increase, leading to a stock price drop on June 30th. These results may cause investors to be cautious when assessing the company’s future prospects, but could also provide promising opportunities for those willing to take the risk.
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