Larimar Therapeutics, Inc.
LRMRHealthcare|Biotechnology|US
$2.39
+0.07 (+3.02%)
DCF Value
$1.06
Tangible Book / Share
$1.23
Cash / Share
$1.50
Financials
Financial Snapshot
Market Cap
$248.3M
Enterprise Value
$160.5M
Revenue (TTM)
$0.00
Net Income (TTM)
-$172.6M
Cash & Investments
$156.3M
Net Cash
$151.3M
Free Cash Flow (TTM)
-$156.1M
Operating CF (TTM)
-$155.9M
Debt/Equity
0.04
Cash Runway & Burn Rate
Cash on Hand
$156.3M
Quarterly Burn
$39.0M
Monthly Burn
$13.0M
Est. Runway
~4.0 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $129.2M | $102.1M | $118.1M | $1.0M | $92.6M | $70.1M | $118.4M | $86.8M | $183.5M | $136.9M | $156.3M | |
| Operating Cash Flow | -$52.0M | -$43.8M | -$51.5M | -$22.7M | -$42.2M | -$42.1M | -$27.6M | -$33.5M | -$70.8M | -$113.2M | -$155.9M | |
| Free Cash Flow | -$52.6M | -$43.8M | -$51.6M | -$22.8M | -$42.3M | -$42.4M | -$27.7M | -$33.6M | -$71.3M | -$113.3M | -$156.1M | |
| Capital Expenditure | -$660.0K | -$55.0K | -$108.0K | -$83.0K | -$62.0K | -$333.0K | -$100.0K | -$164.0K | -$515.0K | -$91.0K | -$153.0K | |
| Financing Cash Flow | -$2.7M | $16.6M | $66.9M | $19.4M | $93.6M | $19.9M | $75.3M | $30.0K | $161.9M | $65.1M | $172.8M |
R&D Spending
R&D (TTM)
$157.3M
R&D Intensity
—
R&D Growth vs Prior
+2.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $39.8M | $41.7M | $49.5M | $20.8M | $31.3M | $38.4M | $24.3M | $27.7M | $73.3M | $154.2M | $157.3M | |
| SG&A | $17.1M | $11.9M | $12.9M | $2.4M | $11.4M | $12.1M | $12.3M | $14.1M | $17.6M | $18.3M | $21.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $212.0K | $188.0K | $261.0K | $78.0K | $155.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | -$212.0K | -$188.0K | -$261.0K | -$78.0K | -$155.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $39.8M | $41.7M | $49.5M | $20.8M | $31.3M | $38.4M | $24.3M | $27.7M | $73.3M | $154.2M | $157.3M | |
| SG&A | $17.1M | $11.9M | $12.9M | $2.4M | $11.4M | $12.1M | $12.3M | $14.1M | $17.6M | $18.3M | $21.8M | |
| Operating Income | -$57.1M | -$53.9M | -$62.7M | -$23.2M | -$42.8M | -$50.5M | -$36.5M | -$41.8M | -$90.9M | -$172.5M | -$179.0M | |
| Interest Expense | $347.0K | $971.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$58.2M | -$52.9M | -$63.0M | -$23.1M | -$42.5M | -$50.6M | -$35.4M | -$36.9M | -$80.6M | -$165.7M | -$172.6M | |
| Net Income | -$57.9M | -$52.0M | -$61.4M | -$23.1M | -$42.3M | -$50.6M | -$35.4M | -$36.9M | -$80.6M | -$165.7M | -$172.6M | |
| EPS (Diluted) | -25.44 | -22.76 | -22.85 | -2.51 | -3.56 | -2.93 | -1.33 | -0.84 | -1.32 | -2.27 | -1.99 | |
| EBITDA | -$57.4M | -$52.6M | -$60.8M | -$23.1M | -$42.6M | -$50.3M | -$35.0M | -$36.6M | -$80.3M | -$165.3M | -$172.3M | |
| Shares Out. (M) | 2.27 | 2.29 | 2.69 | 9.21 | 11.88 | 17.16 | 25.76 | 43.90 | 61.26 | 72.95 | 103.88 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $32.4M | $40.8M | $49.3M | $1.0M | $68.1M | $70.1M | $26.8M | $26.7M | $33.2M | $85.4M | $92.7M | |
| Short-Term Investments | $96.8M | $61.3M | $68.7M | $0.00 | $24.5M | $0.00 | $91.6M | $60.0M | $150.2M | $51.4M | $63.6M | |
| Total Current Assets | $130.9M | $104.9M | $121.3M | $4.8M | $98.0M | $72.2M | $120.7M | $90.2M | $195.3M | $142.0M | $160.7M | |
| Total Assets | $131.6M | $105.5M | $121.8M | $5.2M | $104.7M | $78.7M | $126.4M | $95.9M | $200.2M | $145.8M | $165.3M | |
| Total Current Liabilities | $9.9M | $7.3M | $13.3M | $5.9M | $9.0M | $8.8M | $10.7M | $9.5M | $24.4M | $64.8M | $34.2M | |
| Long-Term Debt | $0.00 | $20.0M | $15.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $9.9M | $27.3M | $28.5M | $5.9M | $15.0M | $14.3M | $15.5M | $14.2M | $28.4M | $67.8M | $37.9M | |
| Stockholders' Equity | $121.7M | $78.2M | $93.3M | -$694.0K | $89.7M | $64.4M | $110.9M | $81.7M | $171.8M | $78.1M | $127.4M | |
| Retained Earnings | -$237.5M | -$289.6M | -$350.9M | -$23.1M | -$65.6M | -$116.3M | -$151.6M | -$188.6M | -$269.2M | -$434.8M | -$497.2M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$52.0M | -$43.8M | -$51.5M | -$22.7M | -$42.2M | -$42.1M | -$27.6M | -$33.5M | -$70.8M | -$113.2M | -$155.9M | |
| Capital Expenditure | -$660.0K | -$55.0K | -$108.0K | -$83.0K | -$62.0K | -$333.0K | -$100.0K | -$164.0K | -$515.0K | -$91.0K | -$153.0K | |
| Free Cash Flow | -$52.6M | -$43.8M | -$51.6M | -$22.8M | -$42.3M | -$42.4M | -$27.7M | -$33.6M | -$71.3M | -$113.3M | -$156.1M | |
| Investing Cash Flow | $51.4M | $35.6M | -$6.9M | -$83.0K | $17.1M | $24.2M | -$91.0M | $33.4M | -$85.4M | $100.3M | $55.1M | |
| Financing Cash Flow | -$2.7M | $16.6M | $66.9M | $19.4M | $93.6M | $19.9M | $75.3M | $30.0K | $161.9M | $65.1M | $172.8M | |
| Issuance of Stock | $220.0K | $195.0K | $66.9M | $19.4M | $75.6M | $19.9M | $75.3M | $30.0K | $161.8M | $65.1M | $172.8M | |
| Repurchase of Stock | $220.0K | $195.0K | $67.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$2.9M | $16.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $173.0K | $129.0K | $2.2M | $5.5M | $6.6M | $7.6M | $8.8M | $7.0M | $7.5M | |
| Net Change in Cash | -$3.2M | $8.4M | $8.6M | -$48.3M | $68.5M | $1.9M | -$43.3M | -$76.0K | $5.7M | $52.2M | $72.0M |
Dilution Tracker
Shares outstanding grew 513.9% over 5 years — significant dilution
Shares Outstanding
104M
5-Year Share Growth
+513.9%
Stock Issuance (TTM)
$172.8M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 2.27 | 2.29 | 2.69 | 9.21 | 11.88 | 17.16 | 25.76 | 43.90 | 61.26 | 72.95 | 103.88 | |
| Change vs Prior % | — | 0.5% | 17.5% | 243.1% | 29.0% | 44.4% | 50.1% | 70.4% | 39.5% | 19.1% | 42.4% | |
| Stock Issuance | $220.0K | $195.0K | $66.9M | $19.4M | $75.6M | $19.9M | $75.3M | $30.0K | $161.8M | $65.1M | $172.8M | |
| Stock Repurchase | $220.0K | $195.0K | $67.2M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $173.0K | $129.0K | $2.2M | $5.5M | $6.6M | $7.6M | $8.8M | $7.0M | $7.5M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -47.5% | -66.5% | -65.8% | 3333.1% | -47.2% | -78.6% | -31.9% | -45.2% | -46.9% | -212.2% | -137.4% | |
| ROA % | -44.0% | -49.3% | -50.4% | -444.8% | -40.4% | -64.4% | -28.0% | -38.5% | -40.3% | -113.6% | -104.4% | |
| ROIC % | -45.3% | -53.9% | -53.7% | 3888.4% | -44.5% | -71.7% | -31.4% | -47.9% | -51.4% | -210.0% | -135.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | -202.9% | 11.3% | -38.8% | 70.1% | -98.7% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 22.6% | 5.7% | -16.4% | 63.0% | -84.4% | -17.9% | 27.6% | -14.3% | -117.7% | -89.8% | |
| Net Income | 22.1% | 10.1% | -18.0% | 62.3% | -83.0% | -19.6% | 30.2% | -4.5% | -118.1% | -105.5% | |
| EPS (Diluted) | 23.6% | 10.5% | -0.4% | 89.0% | -41.8% | 17.7% | 54.6% | 36.8% | -57.1% | -72.0% | |
| Operating Cash Flow | 12.7% | 15.8% | -17.6% | 55.9% | -85.9% | 0.2% | 34.5% | -21.4% | -111.5% | -60.0% | |
| Free Cash Flow | 12.5% | 16.7% | -17.7% | 55.8% | -85.5% | -0.4% | 34.8% | -21.5% | -112.0% | -59.0% | |
| R&D Expense | -27.2% | 4.9% | 18.7% | -58.0% | 50.3% | 22.9% | -36.8% | 14.1% | 164.8% | 110.5% | |
| SG&A Expense | -10.4% | -30.3% | 8.2% | -81.3% | 370.2% | 5.9% | 1.7% | 14.8% | 25.0% | 3.8% | |
| Total Assets | -30.4% | -19.8% | 15.4% | -95.7% | 1912.8% | -24.9% | 60.7% | -24.1% | 108.7% | -27.2% | |
| Book Value / Share | -29.4% | -36.1% | 1.5% | -100.2% | 10120.7% | -50.3% | 14.7% | -56.8% | 50.7% | -61.8% | |
| Debt | -43.8% | 457.3% | 3.2% | -99.5% | 6618.6% | -7.9% | -9.9% | 2.6% | -7.7% | -20.5% | |
| Diluted Shares | 2.0% | 0.5% | 17.5% | 243.1% | 29.0% | 44.4% | 50.1% | 70.4% | 39.5% | 19.1% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B1.95
10Y Low / Med / High0.71 / 1.71 / 3.56
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.06
Tangible Book / Share
$1.23
Net Current Assets / Share
$1.18
Graham Net-Net
$1.14
Cash / Share
$1.50
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -1.50 | -2.44 | -2.60 | -5.31 | -6.01 | -3.68 | -3.11 | -5.42 | -2.93 | -1.68 | -1.20 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 0.71 | 1.62 | 1.71 | -176.84 | 2.84 | 2.88 | 0.96 | 2.44 | 1.38 | 3.56 | 1.95 | |
| EV/EBITDA | -1.01 | -2.02 | -2.15 | -5.27 | -4.52 | -2.41 | -2.43 | -4.87 | -2.60 | -1.19 | -0.93 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-2.81
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $2.3M | $41.1M | $130.4M |
| Net Income | -$100.0M | -$81.8M | -$51.5M |
| EPS | $-1.37 | $-1.17 | $-0.53 |
| # Analysts (EPS) | 6 | 7 | 5 |