Larimar

Larimar Therapeutics Announces Pricing of Underwritten Public Offering of Common Stock

Retrieved on: 
Wednesday, February 14, 2024
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BALA CYNWYD, Pa., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the pricing of its previously announced underwritten public offering of 17,162,472 shares of its common stock at a price to the public of $8.74 per share, the closing price of its common stock on February 13, 2024, for gross proceeds of approximately $150.0 million, before deducting underwriting discounts and commissions and other offering expenses.

Key Points: 
  • BALA CYNWYD, Pa., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the pricing of its previously announced underwritten public offering of 17,162,472 shares of its common stock at a price to the public of $8.74 per share, the closing price of its common stock on February 13, 2024, for gross proceeds of approximately $150.0 million, before deducting underwriting discounts and commissions and other offering expenses.
  • In addition, Larimar has granted the underwriters a 30-day option to purchase up to an additional 2,574,370 shares of its common stock at the public offering price, less underwriting discounts and commissions.
  • All shares of common stock are being offered by Larimar.
  • The offering is expected to close on or about February 16, 2024, subject to the satisfaction of customary closing conditions.

Larimar Therapeutics Announces Proposed Underwritten Public Offering

Retrieved on: 
Tuesday, February 13, 2024
Attention, Prospectus, Larimar, Telephone, Floor, Sale, Form, State Street, SVB Securities, Therapy, Madison Avenue, Guggenheim, Security (finance), Guggenheim Partners, Research

In addition, Larimar expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the securities to be sold in the proposed offering at the public offering price, less underwriting discounts and commissions.

Key Points: 
  • In addition, Larimar expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the securities to be sold in the proposed offering at the public offering price, less underwriting discounts and commissions.
  • All shares of common stock and pre-funded warrants in the proposed offering are to be sold by Larimar.
  • The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the proposed offering.
  • Leerink Partners, Citigroup and Guggenheim Securities are acting as joint bookrunning managers for the proposed offering.

Larimar Therapeutics Reports Third Quarter 2023 Operating and Financial Results

Retrieved on: 
Tuesday, November 14, 2023
Research, Safety, Therapy, IP, INN, International, Frataxin, Friedreich's ataxia, Clinical trial, Insurance, Patient, OLE, FDA, FA, Pharmacokinetics, Gene expression, Caregiver, Ataxia, CMO, USAN, Skin, Horizon, Amgen, Pharmaceutical industry, Cryptocurrency, Larimar, MD

“For the OLE trial, initiation remains on track for the first quarter of 2024, and we expect to report interim data later that year in the fourth quarter.

Key Points: 
  • “For the OLE trial, initiation remains on track for the first quarter of 2024, and we expect to report interim data later that year in the fourth quarter.
  • Research and development expenses for the third quarter of 2023 were $6.6 million compared to $5.6 million for the third quarter of 2022.
  • General and administrative expenses for the third quarter of 2023 were $3.8 million compared to $2.9 million for the third quarter of 2022.
  • Other income (expense), net was $1.3 million of income in the third quarter of 2023 compared to $0.2 million in the third quarter of 2022.

Larimar Therapeutics Reports Second Quarter 2023 Operating and Financial Results

Retrieved on: 
Thursday, August 10, 2023
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The Company reported a net loss for the second quarter of 2023 of $8.4 million, or $0.19 per share, compared to a net loss of $8.7 million, or $0.47 per share, for the second quarter of 2022.

Key Points: 
  • The Company reported a net loss for the second quarter of 2023 of $8.4 million, or $0.19 per share, compared to a net loss of $8.7 million, or $0.47 per share, for the second quarter of 2022.
  • Research and development expenses for the second quarter of 2023 were $5.9 million compared to $5.6 million for the second quarter of 2022.
  • General and administrative expenses for the second quarter of 2023 were $3.7 million compared to $3.0 million for the second quarter of 2022.
  • General and administrative expenses for the first half of 2023 were $6.8 million compared to $6.1 million for the first half of 2022.

Larimar Therapeutics Receives FDA Clearance to Proceed to 50 mg Cohort in CTI-1601’s Phase 2 Friedreich's Ataxia Trial and to Initiate Open Label Extension Trial

Retrieved on: 
Tuesday, July 25, 2023
PK, Tissue, PD, Mitochondrion, Phase 2 (graffiti artist), Clinical trial, Skin, Friedreich's ataxia, ID, PRIME, Orphan drug, Patient, FXN, Webcast, FA, FDA, Therapy, Regulation of food and dietary supplements by the U.S. Food and Drug Administration, OLE, Food, Safety, Pharmaceutical industry, Larimar, MD

In addition, Larimar’s open label extension (OLE) trial was also cleared for initiation by the FDA.

Key Points: 
  • In addition, Larimar’s open label extension (OLE) trial was also cleared for initiation by the FDA.
  • CTI-1601 is a novel protein replacement therapy designed to deliver frataxin to the mitochondria of patients with FA who have low levels of frataxin.
  • Larimar received clearance to advance its Phase 2 trial to a 50 mg cohort and initiate its OLE trial following a review by the FDA of Larimar’s complete response to its partial clinical hold that included unblinded safety, pharmacokinetic (PK), and pharmacodynamic (PD) data from the Phase 2 trial’s completed 25 mg cohort.
  • Participants in the OLE trial will receive subcutaneous injections of 25 mg of CTI-1601 administered daily.

Larimar Therapeutics Appoints Dr. Rusty Clayton as Chief Medical Officer

Retrieved on: 
Monday, July 17, 2023
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BALA CYNWYD, Pa., July 17, 2023 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the appointment of Russell “Rusty” Clayton, DO, as Chief Medical Officer (“CMO”), effective today.

Key Points: 
  • BALA CYNWYD, Pa., July 17, 2023 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the appointment of Russell “Rusty” Clayton, DO, as Chief Medical Officer (“CMO”), effective today.
  • “We are delighted to welcome Dr. Clayton in his new role as CMO as we further expand our clinical development of CTI-1601.
  • Together with our Chief Development Officer Dr. Gopi Shankar and the rest of the Larimar team, we are positioned for success as we work to change the treatment paradigm for patients with Friedreich’s ataxia,” said Carole Ben-Maimon, MD, President, and Chief Executive Officer of Larimar.
  • The Option was granted as an inducement material to his acceptance of employment as Chief Medical Officer of the Company.

Larimar Therapeutics Reports Preliminary Top-line Data from Phase 2 Trial’s 25 mg Cohort Showing Increases in Frataxin Levels in Patients with Friedreich’s Ataxia and First Quarter 2023 Financial Results

Retrieved on: 
Monday, May 15, 2023
Tissue, Larimar, FXN, Webcast, FA, FDA, Therapy, Skin, Pharmaceutical industry, Vaccine, MD, Agency

Participants in the trial’s 25 mg cohort (n=13) were randomized to receive subcutaneous injections of 25 mg CTI-1601 (n=9) or placebo (n=4) daily for 14 days and then every-other-day thereafter until day 28.

Key Points: 
  • Participants in the trial’s 25 mg cohort (n=13) were randomized to receive subcutaneous injections of 25 mg CTI-1601 (n=9) or placebo (n=4) daily for 14 days and then every-other-day thereafter until day 28.
  • Data from the cohort indicate CTI-1601 was generally well tolerated and showed increases in frataxin (FXN) levels from baseline compared to placebo in all evaluated tissues (skin and buccal cells) at day 14.
  • In skin, a median placebo-adjusted increase from baseline of 3.5 pg/µg in frataxin levels was observed on day 14 (frataxin concentration normalized to total protein).
  • “Importantly, the frataxin increases achieved with a relatively low 25 mg dose in our Phase 2 trial suggest a continuous daily dosing regimen is preferred for maintaining increases achieved with 25 mg CTI-1601.

Richmond American Is Now Preselling at Popular Mariposa Masterplan

Retrieved on: 
Friday, March 31, 2023
Monarch, RV, Season, RIO, Copper, American Home Mortgage, NYSE, Larimar, MDC, 3D printing, Fashion design

RIO RANCHO, N.M., March 31, 2023 Richmond American Homes of New Mexico, Inc., a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC), is excited to announce that its highly anticipated Seasons at Monarch community is now preselling from nearby Seasons at Broadmoor Heights.

Key Points: 
  • RIO RANCHO, N.M., March 31, 2023 Richmond American Homes of New Mexico, Inc., a subsidiary of M.D.C. Holdings, Inc. (NYSE: MDC), is excited to announce that its highly anticipated Seasons at Monarch community is now preselling from nearby Seasons at Broadmoor Heights.
  • The must-see addition to the popular Mariposa masterplan offers eight versatile floor plans, including two brand-new plans with attached RV garages.
  • Two ranch-style model homes, the Copper and the Larimar, are slated to open for tours in early summer.

Larimar Therapeutics Reports Fourth Quarter and Full Year 2022 Operating and Financial Results

Retrieved on: 
Tuesday, March 14, 2023
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The Company reported a net loss for the fourth quarter of 2022 of $9.4 million, or $0.21 per share, compared to a net loss of $9.1 million, or $0.50 per share, for the fourth quarter of 2021.

Key Points: 
  • The Company reported a net loss for the fourth quarter of 2022 of $9.4 million, or $0.21 per share, compared to a net loss of $9.1 million, or $0.50 per share, for the fourth quarter of 2021.
  • Research and development expenses for the fourth quarter of 2022 were $7.2 million compared to $6.3 million for the fourth quarter of 2021.
  • General and administrative expenses for the fourth quarter of 2022 were $3.2 million compared to $2.8 million for the fourth quarter of 2021.
  • General and administrative expenses for the full year 2022 were $12.2 million compared to $12.1 million for the same period in 2021.

Larimar Therapeutics Appoints Dr. Gopi Shankar as Chief Development Officer

Retrieved on: 
Tuesday, February 7, 2023
Drexel University, Disease, MBA, Master of Science, Friedreich's ataxia, Employment, Research, University, Food, MAA, Food and Drug Administration, Janssen Biotech, Fellow, IND, Gopi Shankar Madurai, Janssen Pharmaceuticals, CDO, Larimar, Financial compensation, European Medicines Agency, Clinical pharmaceutical scientist, Immunogenicity, Oklahoma State University–Stillwater, Option, Head, FA, BLA, Patient, Janssen, AAPS, Growth, Philip, Johnson & Johnson, Doctor of Philosophy, Therapy, Pharmaceutical industry, Science, MD

BALA CYNWYD, Pa., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the appointment of Gopi Shankar, PhD, MBA, FAAPS, to the newly created position of Chief Development Officer (CDO).

Key Points: 
  • BALA CYNWYD, Pa., Feb. 07, 2023 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today announced the appointment of Gopi Shankar, PhD, MBA, FAAPS, to the newly created position of Chief Development Officer (CDO).
  • Dr. Shankar will report directly to Chief Executive Officer Carole Ben-Maimon, MD, and will be responsible for the strategic development of the Company’s clinical and R&D programs, including additional applications of the Company’s platform technology.
  • “We are thrilled to welcome Dr. Shankar to Larimar and look forward to benefiting from his extensive expertise in biologics development, immunology, PK/PD, and bioanalysis,” said Dr. Ben-Maimon.
  • He also previously worked as Senior Director and Head, Bioanalytical Sciences and Immunogenicity at Janssen Research & Development.