Guggenheim initiates coverage of Larimar Therapeutics at 'buy'

Larimar Therapeutics

19/10/2022 19:19

** Brokerage Guggenheim initiates coverage of Larimar
Therapeutics Inc  LRMR.O  with "buy" rating and $12 PT 
    ** Guggenheim sees disease-modifying potential in co's lead
asset CTI-1601 in mid-stage study to treat patients with
Friedreich's Ataxia (FA), a rare disease causing progressive
nervous system damage and movement problems
    ** U.S. FDA in September lifted full clinical hold on
CTI-1601 trial and imposed a partial hold  urn:newsml:reuters.com:*:nL4N30L2ES
    ** Brokerage sees ~$1 bln in global peak sales for CTI-1601
if approved, citing potential opportunity in an FA market of ~$3
bln; the disease affects ~25,000 people in Western countries
with no current treatment
    ** Brokerage says top-line mid-stage data on CTI-1601 in
treating FA, expected in H2 of 2023, could drive co's stock
performance
    ** Including session moves, stock down ~68% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))