Larimar Therapeutics Files Q3 2024 10-Q

TL;DR

Larimar's Q3 10-Q is in. Shows R&D spend for '23, and some old balance sheet data. Nothing earth-shattering.

AI Summary

Larimar Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as ZAFGEN, INC., reported research and development expenses for the nine months ended September 30, 2023. The filing also references retained earnings as of December 31, 2022, and April 1, 2023, and includes details on fair value inputs for corporate bonds and money market funds as of December 31, 2023.

Why It Matters

This filing provides investors with an update on Larimar Therapeutics' financial performance and operational details for the third quarter of 2024, crucial for assessing the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The filing contains financial data and operational updates, but lacks specific forward-looking statements or significant new disclosures that would indicate a high-risk profile.

Key Numbers

• 20240930 — Period End Date (The filing covers the period ending on this date.)
• 2023-01-01 to 2023-09-30 — R&D Expense Period (Specific period for which Research and Development Expenses are reported.)

Key Players & Entities

• Larimar Therapeutics, Inc. (company) — Filer
• ZAFGEN, INC. (company) — Former company name
• September 30, 2024 (date) — Period of report
• September 30, 2023 (date) — Period for R&D expenses
• December 31, 2022 (date) — Retained earnings date

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share LRMR The Nasdaq Global Ma

Filing Documents

• lrmr-20240930.htm (10-Q) — 1506KB
• lrmr-ex31_1.htm (EX-31.1) — 11KB
• lrmr-ex31_2.htm (EX-31.2) — 11KB
• lrmr-ex32_1.htm (EX-32.1) — 16KB
• 0000950170-24-119100.txt ( ) — 6681KB
• lrmr-20240930.xsd (EX-101.SCH) — 927KB
• lrmr-20240930_htm.xml (XML) — 1186KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

-FINANCIA L INFORMATION

PART I-FINANCIA L INFORMATION

Financi al Statements

Item 1. Financi al Statements LARIMAR THERAPEUTICS, INC. CONDENSED CONSOLIDAT ED BALANCE SHEETS (In thousands, except share and per share data) (Unaudited) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 35,067 $ 26,749 Short-term marketable securities 168,640 60,041 Prepaid expenses and other current assets 9,549 3,385 Total current assets 213,256 90,175 Property and equipment, net 779 684 Operating lease right-of-use assets 3,026 3,078 Restricted cash 1,339 1,339 Other assets 621 659 Total assets $ 219,021 $ 95,935 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,686 $ 1,283 Accrued expenses 13,573 7,386 Operating lease liabilities, current 1,026 837 Total current liabilities 16,285 9,506 Operating lease liabilities 4,336 4,709 Total liabilities 20,621 14,215 Commitments and contingencies (See Note 8) Stockholders' equity: Preferred stock; $ 0.001 par value per share; 5,000,000 shares authorized as of September 30, 2024 and December 31, 2023; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value per share; 115,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 63,806,628 and 43,909,069 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 64 43 Additional paid-in capital 438,312 270,150 Accumulated deficit ( 240,334 ) ( 188,554 ) Accumulated other comprehensive gain 358 81 Total stockholders' equity 198,400 81,720 Total liabilities and stockholders' equity $ 219,021 $ 95,935 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 LARIMAR THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, exc

View Full Filing

View this 10-Q filing on SEC EDGAR