Larimar Therapeutics, Inc. (LRMR)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Larimar Therapeutics, Inc. (“Larimar” or the “Company”) (NASDAQ: LRMR). Investors who purchased Larimar shares are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Larimar and certain of its officers and/or directors have violated federal securities laws.
On May 25, 2021, Larimar issued a press release “announc[ing] that the United States Food and Drug Administration (FDA) has placed a clinical hold on the CTI-1601 clinical program and that the company will not be closing a previously announced private placement financing. CTI-1601 is a recombinant fusion protein intended to deliver human frataxin into the mitochondria of patients with FA who are unable to produce enough of this essential protein.” The press release further stated that “[t]he clinical hold follows the previous notification by Larimar to the FDA of mortalities which occurred at the highest dose levels in an ongoing 180-day non-human primate (NHP) toxicology study, which is designed to support extended dosing of patients with CTI-1601. In the clinical hold letter, the FDA stated it needs a full study report from the ongoing NHP study and Larimar may not initiate additional clinical trials until the company has submitted the report and received notification from the agency that additional clinical trials may commence.” On this news, Larimar’s stock price fell $4.52 per share, or 33.46%, to close at $8.99 per share on May 26, 2021. Then, on February 15, 2022, Larimar disclosed that “[t]he FDA had placed a clinical hold on the CTI-1601 program in May 2021, following mortalities which occurred at the highest dose levels in a 26-week non-human primate (NHP) toxicology study that was designed to support extended dosing of patients with CTI-1601.” On this news, Larimar’s stock price fell $4.36 per share, or 52.09%, to close at $4.01 per share on February 15, 2022.
If you are aware of any facts relating to this investigation or purchased Larimar shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.