Larimar Therapeutics (LRMR) Submits Initial Module of BLA For Nomlabofusp Therapy

Larimar Therapeutics Inc. (NASDAQ:LRMR) is one of the 10 best stocks under $10 that could triple.

On June 29, Larimar Therapeutics Inc. (NASDAQ:LRMR) filed the first module of its Biologics License Application (BLA) to the U.S. FDA to get its Nomlabofusp therapy approved on an accelerated basis.  The company also plans to submit the other modules during the second half of 2026.

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In addition, Larimar revealed that the Nomlabofusp therapy had exhibited positive outcomes in an open-label study involving adult patients receiving daily injections to treat Friedreich’s ataxia.

According to the President and CEO, Carole Ben-Maimon, the new data is an important step in the development of the latest treatment method. It had been confirmed by the FDA that the existing data is enough to approve the application since it is based on skin frataxin, which is a new surrogate endpoint.

Later, on June 30, Christopher Chen from Baird reduced his target price for the stock from $7 to $5, which still offers more than 53% upside potential at the prevailing level. The analyst reiterated his Outperform rating on the stock, based on revisions to the firm’s model.

These revisions came at the back of the company’s Nomlabofusp therapy updates, indicating clinical benefits yet carrying certain safety concerns.

Larimar Therapeutics Inc. (NASDAQ:LRMR) is a clinical-stage biotechnology company that focuses on finding cures for rare illnesses through its innovative cell-penetrating peptide technology platform. Its primary candidate is CTI-1601, which is currently undergoing Phase 2 OLE trials in order to reach a cure for Friedreich’s ataxia.

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