Larimar Therapeutics Inc. shares surged 54% to $3.05 in after-hours trading on Thursday after it said provided updates following a meeting with the Food and Drug Administration on the CTI-1601 clinical program.
The company said it received feedback from the FDA on information needed to resolve CTI-1601's current clinical hold, as well as a proposed change for a second phase. CTI-1601 is a treatment for Friedreich's ataxia.
Larimer plans to submit a complete response to CTI-1601's clinical hold in the third quarter.
Larimar is also proposing a phase two, four-week dose exploration study in Friedreich's ataxia patients. Friedreich's ataxia is a rare disease that causes progressive nervous system damage and movement problems, usually beginning during childhood.
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