Larimar Therapeutics Announces Proposed Underwritten Public Offering; No Size Or Amount Disclosed
Portfolio Pulse from Benzinga Newsdesk
Larimar Therapeutics, Inc. (LRMR) announced a proposed underwritten public offering of its common stock and pre-funded warrants. The offering includes a 30-day option for underwriters to purchase an additional 15% of the securities. The offering's completion, size, and terms are subject to market conditions. Leerink Partners, Citigroup, and Guggenheim Securities are the joint bookrunning managers, with LifeSci Capital as the lead manager. The proceeds are intended for the development of nomlabofusp (CTI-1601), other pipeline candidates, working capital, and general corporate purposes.
February 13, 2024 | 9:54 pm
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Larimar Therapeutics announces a public offering to fund development of nomlabofusp and other projects. Terms and size are pending, subject to market conditions.
Public offerings often lead to short-term stock price declines due to the potential dilution of existing shares. The lack of specific details about the offering size or terms adds uncertainty, which can negatively impact investor sentiment in the short term. However, the funds raised are intended for product development and other critical corporate activities, which could have positive long-term effects.
CONFIDENCE 80
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RELEVANCE 100