Larimar Therapeutics Inc. (NASDAQ: LRMR) announced the pricing of an upsized underwritten public offering, with the clinical-stage biotechnology company issuing 20 million shares at $5.00 per share. The offering is expected to generate $100 million in gross proceeds and is scheduled to close on February 27, 2026. J.P. Morgan and Guggenheim Securities are serving as joint bookrunning managers for the transaction.
The company intends to allocate the capital raised toward advancing the development of nomlabofusp, its lead therapeutic candidate, while the remainder will support general corporate operations and working capital needs. The offering represents a significant capital infusion as Larimar continues its progression through clinical development stages.
This public offering allows the company to strengthen its balance sheet during an active period of research and development. The pricing and timing of the offering will provide Larimar with financial resources to support its near-term operational and clinical development objectives.