FDA keeps clinical hold in place on Larimar's lead drug with job cuts likely on the horizon
The FDA will extend its clinical hold on Larimar Therapeutics’ lead rare disease drug CTI-1601, asking for more data before it will reconsider the company’s case, Larimar said in a release Tuesday.
The agency initially placed a hold on the Phase I program in Friedreich’s ataxia back in May after the company reported multiple deaths of non-human primates in preclinical testing.
Shares in $LRMR were trading down roughly 62% Tuesday morning, from $8.56 to $3.40.
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