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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