Marinus Pharma Raised FY23 Outlook: ZTALMY Revenue $17M-$18.5M From $15M-$17M, BARDA Revenue $11M-$12M From $8M-$11M
Portfolio Pulse from Benzinga Newsdesk
Marinus Pharma has raised its FY23 outlook, with ZTALMY revenue now expected to be $17M-$18.5M, up from $15M-$17M, and BARDA revenue projected at $11M-$12M, up from $8M-$11M. The company also revised its GAAP operating expenses to $160-$165 million, down from the previous range of $165-$175 million. The company's cash, cash equivalents, and short-term investments of $175.3 million as of June 30, 2023, are expected to be sufficient to fund its operations into the second half of 2024.
August 10, 2023 | 11:08 am
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Marinus Pharma has raised its FY23 outlook, which could positively impact its stock price. The company's revised GAAP operating expenses and sufficient cash and short-term investments to fund operations into H2 2024 also indicate a strong financial position.
The raised FY23 outlook indicates that Marinus Pharma is expecting higher revenues, which is a positive sign for investors. The downward revision of GAAP operating expenses suggests improved cost management, while the sufficient funding for operations into H2 2024 indicates a strong financial position. These factors are likely to boost investor confidence and positively impact the stock price of Marinus Pharma.
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