Here's Why Marinus Pharmaceuticals Is Soaring Today
Welcome to the popular clique, kid. Shares of clinical-stage biopharma Marinus Pharmaceuticals (NASDAQ: MRNS) rose as much as 22.2% by noon EST after the company announced it will be added to the coveted NASDAQ Biotechnology Index on Dec. 18. The index includes biopharma and (oddly) pharmaceutical companies that meet certain eligibility requirements such as a minimum market cap.
The NASDAQ Biotechnology Index is adjusted annually, and this year Marinus Pharmaceuticals made the cut. It provides the tiny biopharma with a bit more publicity. As of 12:23 p.m. EST, the stock had settled to a 17.4% gain.
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Source: Fool.com