BALA CYNWYD, Pa. - Larimar Therapeutics, Inc. (NASDAQ:LRMR), a biotech firm specializing in treatments for rare diseases, has initiated an underwritten public offering of its common stock and pre-funded warrants. The company also plans to provide underwriters a 30-day option to purchase additional securities, potentially expanding the offering by 15%.
The offering, contingent on market conditions, does not have a guaranteed completion date or defined terms as of yet. Leerink Partners, Citigroup, and Guggenheim Securities are the joint bookrunners, with LifeSci Capital serving as the lead manager.
Proceeds from the sale are intended for the development of Larimar's lead compound, nomlabofusp, designed to treat Friedreich’s ataxia, and other pipeline projects. The funds will also support general corporate needs, including research and development expenditures.
This offering follows the effective registration of a shelf statement with the SEC on November 21, 2022. The preliminary prospectus supplement, along with the accompanying prospectus, will be accessible on the SEC’s website.
Larimar's focus extends to using its intracellular delivery platform for creating fusion proteins aimed at other rare diseases marked by intracellular bioactive compound deficiencies.
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