Why Is Larimar Therapeutics Stock Trading Lower On Monday?

Core Insights - Larimar Therapeutics, Inc. released initial data from a long-term OLE study evaluating nomlabofusp for Friedreich's Ataxia, showing promising results in increasing tissue FXN levels [1][2] Group 1: Study Overview - The ongoing long-term OLE study involves daily subcutaneous injections of 25 mg of nomlabofusp in participants with Friedreich's Ataxia, with 14 patients treated for up to 260 days (mean 99 days) [1] - More than 50% of the patients in the study were non-ambulatory [2] Group 2: Efficacy Results - Tissue FXN levels showed a mean change from baseline of 1.32 pg/μg in buccal cells and 9.28 pg/μg in skin cells at Day 90 [2] - Nomlabofusp increased tissue FXN levels from 15% of healthy volunteers at baseline to 30% in buccal cells and from 16% to 72% in skin cells at Day 90 [2] - Steady-state levels of tissue FXN were reached by Day 30 in buccal cells [2] Group 3: Safety and Tolerability - Nomlabofusp was generally well tolerated, with two participants experiencing serious adverse events that resolved within 24 hours [3] - The most common adverse events were mild injection site reactions, which were brief and self-limited [4] Group 4: Future Developments - Dose escalation to 50 mg daily has been initiated in 6 participants [5] - Screening for adolescents with Friedreich's Ataxia is ongoing for a pediatric PK run-in study, with dosing expected in early 2025 [5] Group 5: Market Reaction - Following the release of the study data, LRMR stock declined by 21.5%, trading at $4.85 [6]