Larimar Therapeutics rises as US FDA removes partial clinical hold on genetic disease therapy

Larimar Therapeutics

20/05/2024 21:39

** Shares of drug developer Larimar Therapeutics  LRMR.O 
rise 22.6% to $8.91 in late afternoon trading 
    ** Company says US FDA has removed the partial clinical hold
previously placed on its experimental genetic disease therapy 
    ** LRMR is testing the therapy, nomlabofusp, as a potential
treatment of Friedreich's ataxia, a rare inherited disease that
causes progressive nervous system damage and movement problems
    ** The FDA removed the partial clinical hold after a review
of data from co's recently completed four-week mid-stage trial 
    ** Co says interim data from the ongoing label expansion
study is expected in Q4 of 2024 
    ** Plans to submit a marketing application for the therapy
in 2H25 
    ** Stock up 57.8% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))