Leerink bullish on Larimar Therapeutics, initiates with an Outperform

As previously reported, Leerink analyst Joori Park initiated coverage of Larimar Therapeutics with an Outperform rating and $25 price target. Larimar is a maturing, clinical-stage biotech company developing therapies for rare diseases by leveraging the company’s proprietary intracellular delivery platform that delivers proteins and molecules inside the cell, the firm notes. Lead program nomlabofusp is being developed to treat Friedreich’s ataxia. Larimar aims to address the root cause of FA by increasing frataxin that has the potential to deliver durable therapeutic benefit, in Leerink’s view. The firm believes the company is approaching an intriguing period ahead of important updates, including Phase 2 OLE data in Q4 2024, and the outcome of whether Larimar could file nomlabofusp under an accelerated approval pathway – discussions are currently ongoing with the FDA.