Larimar Q3 net loss narrows to $8.3M; Phase 2 CTI-1601 trial resumes with data expected 2H 2023

Larimar Therapeutics, Inc.

2022-Q3 EPS reported -$1.32

Net loss $8.3M ($0.37/share) in Q3 2022 vs $16.8M ($0.92) in Q3 2021; 9-month net loss $25.9M ($1.32) vs $41.5M ($2.48).
Cash and marketable securities $124.7M at Sept 30, providing projected cash runway into 2H 2024.
FDA lifted full clinical hold; Phase 2 25 mg dose exploration cohort in Friedreich's ataxia patients is ongoing; top-line data expected 2H 2023.
Net proceeds of ~$75.2M raised in September 2022 underwritten offering; Deerfield Management participated.
U.S. Patent No. 11,459,363 issued for CTI-1601 composition of matter, covering into July 2040.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Larimar Therapeutics, Inc. reported the nine months ended September 30, 2022 results: net income a net loss for the nine months ended September 30, 2022 of $25.9 million, or $1.32 per share, EPS $1.32 per share.

Period: the nine months ended September 30, 2022
Net income: a net loss for the nine months ended September 30, 2022 of $25.9 million, or $1.32 per share
EPS: $1.32 per share
Result: reported results

Exact text from the filing

The Company reported a net loss for the nine months ended September 30, 2022 of $25.9 million, or $1.32 per share, compared to a net loss of $41.5 million, or $2.48 per share, for the nine months ended September 30, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Larimar Therapeutics, Inc. reported the third quarter ended September 30, 2022 results: net income a net loss for the third quarter of 2022 of $8.3 million, or $0.37 per share, EPS $0.37 per share.

Period: the third quarter ended September 30, 2022
Net income: a net loss for the third quarter of 2022 of $8.3 million, or $0.37 per share
EPS: $0.37 per share
Result: reported results

Exact text from the filing

The Company reported a net loss for the third quarter of 2022 of $8.3 million, or $0.37 per share, compared to a net loss of $16.8 million, or $0.92 per share, for the third quarter of 2021.

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Source: SEC EDGAR

accession 0000950170-22-024139

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