Business
Larimar Therapeutics Reports Third Quarter 2022 Operating and Financial Results
First cohort of Larimar’s Phase 2 dose exploration trial of CTI-1601 in Friedreich’s ataxia patients is ongoing and proceeding in line with the Company’s
About this update from Larimar Therapeutics, Inc.
[{"type":"text","content":"First cohort of Larimar’s Phase 2 dose exploration trial of CTI-1601 in Friedreich’s ataxia patients is ongoing and proceeding in line with the Company’s planned timelineLarimar expects to provide an update on the Phase 2 trial in Q2 2023 and anticipates reporting top-line data from both cohorts in 2H 2023Cash of $124.7 million at September 30, 2022 provides projected cash runway into 2H 2024 BALA CYNWYD, Pa., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Larimar Therapeutics, Inc. (“Larimar”) (Nasdaq: LRMR), a clinical-stage biotechnology company focused on developing treatments for complex rare diseases, today reported its third quarter 2022 operating and financial results. “This is an exciting time for Larimar, as we recently received regulatory clearance for CTI-1601’s return to the clinic under a partial hold and completed a capital raise with a premier life science investor syndicate,” said Carole Ben-Maimon, MD, President and Chief Executive Officer of Larimar. “These important accomplishments allowed us to begin enrolling patients in the first cohort of our Phase 2 trial in Friedreich’s ataxia patients, which continues to make progress. The trial’s results are expected to inform CTI-1601’s long-term dose regimen, thereby building upon the clinical proof-of-concept data generated in our Phase 1 program. We are grateful for the continued support we have received from the Friedreich’s ataxia community and our shareholders over these past months and look forward to CTI-1601’s continued development as a potentially disease-modifying therapy.” Third Quarter and Subsequent Highlights In September 2022, the U.S. Food and Drug Administration (FDA) lifted the full clinical hold previously placed on the CTI-1601 program and imposed a partial hold, thereby clearing the initiation of the 25 mg cohort of a Phase 2, four-week, placebo-controlled, dose exploration trial in Friedreich’s ataxia (FA) patients. The study’s 25 mg cohort is currently ongoing and proceeding in line with the Company’s planned timeline. Additional cohorts and/or other clinical trials are contingent on a review of the study’s 25 mg cohort data by the FDA and the data monitoring committee. Larimar expects to provide an update on the trial in Q2 2023 and anticipates reporting top-line data in 2H 2023.In September 2022, Larimar raised net proceeds of approximately $75.2 million...