The stock price of Larimar Therapeutics Inc (LRMR) closed the recent trading session at $8.37. The stock kept oscillating between $8.31 and $8.97. During the last check, the stock of LRMR declined 56.99% to $3.6, in the pre-market. The company filed the form SC 13G/A with the SEC, on February 14, 2022. The form refers to the amendment in the form SC 13G.
LRMR News:
On February 14, 2022, the company provided the update on CTI-1601 clinical trials through a press release. Larimar Therapeutics Inc announced that the company received feedback on the clinical trials for CTI-1601 by the Food And Drug Administration. The feedback from the FDA stated that it is sustaining the hold on the clinical trials of CTI-1601. The feedback further stated that supplementary data is required to settle the hold. The company expects to join with the FDA to decide how to give out further information.
The trials were put on a hold following the company’s notice to the mortality office. the mortalities occurred at the highest level of dosage in an NPH toxicology study for 26 weeks. The feedback expects the submission of a thorough report from the company regarding the 26-week NHP toxicology study
CEO Remarks:
The CEO of Larimar Therapeutics Inc (LRMR), Carole Ben-Maimon, said that patient safety is crucial for the company. He added that their ensuing step is to settle on how they can meet their solicitation in the best and expedient manner.
He concluded that they stay focused on the further turn of events of CTI-1601’s and are pursuing this objective with a strong financial position. They mean to work under a cost reduction plan while settling the clinical hold.
About LRMR:
Larimar Therapeutics, Inc is a clinical-stage biopharmaceutical organization, which takes part in the examination, improvement, and commercialization of novel therapeutics mitochondrial issues and Friedreich’s ataxia. The company has its headquarter in Bala Cynwyd, Pennsylvania, United States of America (USA).
