Larimar Therapeutics initiated with an Outperform at Baird

Baird initiated coverage of Larimar Therapeutics with an Outperform rating and $16 price target. The firm assigns the company’s lead agent nomlabofusp a 60% probability of U.S. approval for Friedreich’s ataxia, with potential for accelerated approval seen in 2026, the analyst tells investors in a research note. Baird further notes that it was encouraged by FDA’s selection of nomlabofusp for its START pilot program in May – just a few months after the agent’s positive placebo-controlled phase 2 data.