Larimar Therapeutics retreats on hiked $100 mln stock sale

Larimar Therapeutics

26/02/2026 12:42

** Larimar Therapeutics LRMR.O shares down 8.2% premarket to $5.47 after above-target $100 mln follow-on priced

    ** Bala Cynwyd, Pennsylvania-based LRMR late Weds sold 20 mln shares at $5

    ** Offering size hiked from $75 mln and priced at 16% discount to last close

    **
    LRMR shares soared ~61% on Weds following 31% surge on Tues after the U.S. FDA granted 'breakthrough' tag for co's neurological disorder therapy, nomlabofusp

** Co intends to use net offering proceeds to support development of nomlabofusp and for working capital and general purposes, including R&D and commercialization expenses

** JP Morgan and Guggenheim joint bookrunners, joined by LifeSci Capital and William Blair

** Co has ~83 mln shares outstanding, per LSEG

    ** Avg rating of 11 analysts is "strong buy"; median PT $16

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))