Citi opens ‘positive catalyst watch’ on Larimar Therapeutics into data

Citi opened a “90-day positive catalyst watch” on shares of Larimar Therapeutics (LRMR) while keeping a Buy rating on the name with a $14 price target Initial open label extension data for nomlabofusp remain on track for this quarter, with management narrowing disclosure timing to mid-December, the analyst tells investors in a research note. The firm anticipates the data will offer meaningful insight into the longer-term kinetics of frataxin concentrations and importantly longer-term safety data beyond the 28-day dosing period explored in the Phase 2 study. It sees potential upside for shares on confirmation of a favorable safety profile, durable frataxin increases, and early trends for positive outcomes data.