Larimar Therapeutics closes $69 million stock offering

Larimar Therapeutics Inc. (NASDAQ: LRMR) completed an underwritten public offering of 21.56 million common stock shares at $3.20 per share, generating gross proceeds of $69 million before fees and expenses.

The biotechnology company sold 18.75 million shares in the base offering, with underwriters exercising their full over-allotment option to purchase an additional 2.81 million shares. Leerink Partners, Guggenheim Securities, Truist Securities and William Blair served as joint bookrunning managers.

Larimar plans to use net proceeds to support development of nomlabofusp and other pipeline candidates, along with working capital and general corporate purposes including research and development expenses and pre-commercialization costs.

The Pennsylvania-based company focuses on developing treatments for complex rare diseases. Its lead compound, nomlabofusp, is being developed as a potential treatment for Friedreich's ataxia.

The shares were offered under a shelf registration statement filed with the Securities and Exchange Commission that became effective in May 2024. The final prospectus supplement was filed July 30, 2025.

The information is based on a company press release.

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