Guggenheim says that in line with expectations, Larimar Therapeutics announced that the FDA has cleared the company to advance to the 50mg cohort of the four-week, placebo-controlled, Phase II dose exploration trial of CTI-1601 in patients with Friedreich’s ataxia. Importantly, the open label extension trial was also cleared by the FDA, allowing the company to study long-term efficacy and safety of CTI-1601, the analyst tells investors in a research note. The firm views these “positive” updates “very favorably” and believes they confirm Larimar’s commitment to push the program forward. Guggenheim keeps a Buy rating on the shares, which are up 9% to $3.40 in midday trading.
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