Overview

• US rare disease biotech reported Q1 net loss and lower R&D expenses yr/yr

• Company advancing nomlabofusp toward rolling BLA submission for Friedreich's ataxia

• Cash runway projected into Q2 2027 after $115 mln public offering in February

Outlook

• Larimar plans to initiate rolling BLA submission for nomlabofusp in June 2026

• Company expects to submit final BLA modules, including CMC, in second half of 2026

• Larimar projects cash runway into the second quarter of 2027

Result Drivers

• R&D EXPENSES - Lower research and development expenses driven by reduced nomlabofusp manufacturing and clinical trial costs, partially offset by higher consulting and personnel costs

• G&A EXPENSES - Higher general and administrative expenses due to increased professional fees for commercial consulting and higher personnel costs

Company press release: ID:nGNX93gbBR

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$0.31
Q1 Net Income		-$29.61 mln
Q1 Income From Operations		-$31.12 mln
Q1 Operating Expenses		$31.12 mln

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Larimar Therapeutics Inc is $13.50, about 229.3% above its May 13 closing price of $4.10

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