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Larimar Therapeutics, Inc. (Nasdaq: LRMR) is a clinical-stage biotechnology company dedicated to developing innovative treatments for complex rare diseases. The company's lead compound, CTI-1601, is currently undergoing Phase 1 clinical trials as a potential treatment for Friedreich’s ataxia, a progressive genetic disorder. Using its proprietary cell-penetrating peptide technology platform, Larimar aims to design fusion proteins that address deficiencies in intracellular bioactive compounds.
CTI-1601, a subcutaneously administered, recombinant fusion protein, is engineered to deliver human frataxin (FXN) directly to the mitochondria in patients with Friedreich’s ataxia. This approach is intended to mitigate the symptoms of this debilitating disease, offering hope to patients and their families.
Larimar Therapeutics reported a net loss of $9.1 million in Q3 2023, with research and development expenses totaling $6.6 million. The increase in expenses is attributed to ongoing clinical trials, personnel costs, and professional fees. The company had $95.6 million in cash, cash equivalents, and marketable securities as of September 30, 2023, ensuring sufficient liquidity into Q1 2025.
Recent activities include initiating an underwritten public offering of common stock and pre-funded warrants to raise funds for further research and development, particularly for the continued progression of CTI-1601.
Partnerships with financial entities such as Leerink Partners, Citigroup, and Guggenheim Securities have bolstered Larimar's market presence, demonstrating strong investor confidence and commitment to its mission.
For more information, visit Larimar Therapeutics, Inc.
Larimar Therapeutics has been added to the NASDAQ Biotechnology Index effective December 21, 2020. This index tracks biotechnology and pharmaceutical companies on the NASDAQ exchange. Larimar, focusing on treatments for complex rare diseases, is developing its lead compound, CTI-1601, for Friedreich’s ataxia. The index’s recognition may enhance visibility and potentially attract more investors to Larimar, reflecting its active involvement in the biotechnology sector.
Larimar Therapeutics (Nasdaq: LRMR) has completed dosing in its Phase 1 single ascending dose (SAD) clinical trial for CTI-1601, aimed at treating Friedreich’s ataxia (FA). Preliminary data suggests that the drug was well tolerated at doses up to 100 mg, with no serious adverse events reported. The company plans to release topline data from both the SAD and ongoing multiple ascending dose (MAD) trials in Q2 2021. CTI-1601 is designed as a frataxin replacement therapy, with potential future trials for patients under 18 years expected in the second half of 2021.
Larimar Therapeutics (Nasdaq: LRMR) announced participation in key investor events. CEO Carole Ben-Maimon will engage in virtual 1x1 meetings at Guggenheim Securities Healthcare Talks on November 16, 2020. Additionally, a pre-recorded fireside chat will be available from November 23 to December 3, 2020, at the Piper Sandler 32nd Annual Virtual Healthcare Conference, with further 1x1 meetings on December 1 and 3. Larimar focuses on treatments for rare diseases, notably evaluating CTI-1601 for Friedreich’s ataxia in a Phase 1 clinical program.
Larimar Therapeutics (Nasdaq:LRMR) reported its Q3 2020 results, showcasing progress in clinical trials and financial stability. The Phase 1 trials for CTI-1601, aimed at treating Friedreich’s ataxia, are set to deliver topline data in 1H 2021 following delays due to COVID-19. The company holds $102.3 million in cash and equivalents. Despite a net loss of $10.3 million, down from $8.6 million year-over-year, R&D expenses decreased to $6.9 million. The European Commission granted CTI-1601 orphan drug designation, enhancing regulatory support.
LARIMAR Therapeutics (Nasdaq:LRMR) announced the establishment of its Scientific Advisory Board (SAB) on October 13, 2020. The SAB includes leading experts in rare diseases and mitochondrial disorders, aiming to advance the development of CTI-1601 for Friedreich’s ataxia. The company has resumed its Phase 1 clinical trial for this treatment and received a favorable orphan drug opinion from the European Medicines Agency. The presence of distinguished advisors is expected to bolster Larimar's strategic direction in addressing complex rare disease treatment needs.
Larimar Therapeutics (Nasdaq: LRMR), a clinical-stage biotechnology company, announced that CEO Carole Ben-Maimon will present virtually at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 21, 2020, at 1:40 p.m. EDT. The company focuses on developing treatments for complex rare diseases, with its lead compound CTI-1601 currently in Phase 1 clinical trials aimed at addressing Friedreich’s ataxia. Larimar intends to utilize its intracellular delivery platform to create additional fusion proteins targeting other rare diseases.
Larimar Therapeutics (Nasdaq:LRMR) announced that its CEO, Carole Ben-Maimon, MD, will participate in the Morgan Stanley Virtual 18th Annual Global Healthcare Conference on September 17, 2020, at 11:45 a.m. EDT. A live audio webcast of the event will be available on the company's website, with an archived version available for 30 days afterward.
The company focuses on developing treatments for complex rare diseases, with its lead compound, CTI-1601, currently in a Phase 1 clinical program targeting Friedreich’s ataxia.
Larimar Therapeutics, Inc. (Nasdaq:LRMR) has announced significant advancements following its merger with Chondrial and Zafgen, including a completed $80 million private placement financing. The company has resumed its Phase 1 clinical trial for CTI-1601, targeting Friedreich’s ataxia, and received a positive opinion for orphan drug designation from the EMA. In the second quarter of 2020, Larimar reported a net loss of $11.3 million, with R&D expenses rising to $8.9 million due to increased development activities. The company holds approximately $113.7 million in cash and equivalents.
Larimar Therapeutics (Nasdaq:LRMR) has initiated the third cohort dosing in its Phase 1 clinical trial for CTI-1601, targeting Friedreich’s ataxia (FA). The trial, which encountered delays due to COVID-19, aims to assess the safety and tolerability of this recombinant fusion protein. To date, two cohorts have completed the trial, with topline results expected in early 2021. CTI-1601 has received multiple FDA designations, underscoring its potential as the first frataxin replacement therapy for FA, which currently has no approved treatments.
Larimar Therapeutics, Inc. (Nasdaq:LRMR) announced that Dr. Carole Ben-Maimon, President and CEO, will present at the Jefferies Virtual Healthcare Conference on June 3, 2020, at 4:30 p.m. EDT. The presentation will focus on the company’s advancements in developing treatments for complex rare diseases such as Friedreich’s ataxia. Interested investors can access a live audio webcast from the Investors section of Larimar’s website, which will also feature an archived version available for 30 days post-event.
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