Larimar Therapeutics slips after $75 mln stock offering commenced

Larimar Therapeutics

25/02/2026 21:25

** Larimar Therapeutics LRMR.O shares down 5.4% at $5.63
    in extended trading as it seeks equity raise after seeing its stock more than double in the past two sessions

    ** LRMR shares finished up 61.2% at $5.95 on Weds following 31% surge on Tues after the U.S. FDA granted 'breakthrough' tag for co's neurological disorder therapy, nomlabofusp

    ** Bala Cynwyd, Pennsylvania-based firm after the bell commences $75 mln offering comprising shares and pre-funded warrants

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

** JP Morgan and Guggenheim joint bookrunners

** Co has ~83 mln shares outstanding for roughly $500 mln market cap, per LSEG

    ** All 11 analysts are bullish including 7 "strong buy" ratings; median PT $16

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

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