Larimar Therapeutics price target raised to $12 after $100M offering, schedules March presentations
Wedbush lifted Larimar Therapeutics’ price target from $11 to $12 following the company’s upsized $100 million offering and Breakthrough Therapy designation for nomlabofusp in Friedreich’s ataxia. Management will present at Leerink and Citizens Life Sciences conferences in Miami Beach on March 10–11 with webcasts replayed for 30 days.
1. Price Target Increase
Wedbush raised its price target on Larimar Therapeutics from $11 to $12 while maintaining an Outperform rating after the company completed an upsized $100 million equity offering. The firm also increased projected Q4 spending to align with a year-end cash balance of $137 million and highlighted ongoing dialogue with regulators.
2. Pipeline Breakthrough and Offering
Larimar’s lead candidate, nomlabofusp, recently received Breakthrough Therapy designation for Friedreich’s ataxia, marking a key regulatory milestone. The financing bolsters the company’s intracellular delivery platform, which aims to develop fusion proteins addressing rare diseases linked to intracellular bioactive compound deficiencies.
3. Investor Conference Schedule
Members of Larimar’s management team will present at the Leerink Partners Global Healthcare Conference on March 10 at 8:40 AM ET and at The Citizens Life Sciences Conference on March 11 at 4:00 PM ET in Miami Beach. Webcasts of both presentations will be available live and replayed for 30 days on the company’s Events and Presentations page.