Oppenheimer has initiated coverage on Larimar Therapeutics (LRMR), a clinical-stage biotech company developing treatments for rare diseases, with an Outperform rating and a $26 price target. The analysts believe Larimar’s lead program, Nomlabofusp, could become a significant treatment option for Friedreich’s ataxia (FA), a rare neurodegenerative disease, due to its potential disease-modifying properties. Oppenheimer expects interim data from an open-label extension (OLE) trial in the fourth quarter of 2024 and anticipates a potential FDA marketing application submission in the second half of 2025.