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Bala Cynwyd, Pennsylvania – Larimar Therapeutics, Inc. (NASDAQ:LRMR), a biotechnology company specializing in the treatment of rare diseases, has begun a public offering of common stock and pre-funded warrants. . The company also plans to offer underwriters a 30-day option to purchase additional securities, potentially increasing the offering by 15%.
This service is subject to market conditions and there is currently no guarantee completion date or clear terms. Leerink Partners, Citigroup and Guggenheim Securities are joint bookrunners, with LifeSci Capital acting as lead manager.
Proceeds from the sale will be used to support the development of Larimar's lead compound, Nomurafsup, for the treatment of Friedreich's ataxia, as well as other pipeline projects. This funding also supports general corporate needs, including research and development costs.
This offering follows the filing of an effective issuance statement with the SEC on November 21, 2022. The preliminary prospectus supplement, along with the attached prospectus, can be accessed from the SEC's website.
Larimar's focus extends to the use of intracellular delivery platforms to create fusion proteins targeting other rare diseases characterized by a deficiency of intracellular bioactive compounds.
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