Detailed financial statements for Larimar Therapeutics, Inc. (LRMR): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Headquartered in Bala Cynwyd, Pennsylvania, Larimar Therapeutics, Inc. operates as a clinical-stage biotechnology firm. Its core mission involves crafting therapies for rare diseases, leveraging a distinctive cell-penetrating peptide technology platform. The company's foremost experimental therapy, CTI-1601, is presently undergoing Phase 1 clinical trials.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $3.93, LRMR has negative trailing earnings (P/E not meaningful) and an ROE of -137.39%. Market capitalisation stands at $408M.
Balance sheet quality for LRMR: current ratio of 2.2, net cash position of $132.8M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | $212000 | $188000 | $261000 | $78000 | $155000 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | -$212000 | -$188000 | -$261000 | -$78000 | -$155000 | 0 | 0 | 0 | 0 | 0 |
| Research & Development | $39.8M | $41.7M | $49.5M | $20.8M | $31.3M | $38.4M | $24.2M | $27.7M | $73.3M | $154.2M |
| Selling, General & Admin | $17.1M | $11.9M | $12.9M | $2.4M | $11.4M | $12.1M | $12.3M | $14.1M | $17.6M | $18.3M |
| Operating Expenses | $56.9M | $53.7M | $62.5M | $23.2M | $42.6M | $50.5M | $36.5M | $41.8M | $90.9M | $172.5M |
| Operating Income | -$57.1M | -$53.9M | -$62.7M | -$23.2M | -$42.8M | -$50.5M | -$36.5M | -$41.8M | -$90.9M | -$172.5M |
| EBITDA | -$57.4M | -$52.6M | -$60.8M | -$23.1M | -$42.6M | -$50.3M | -$35.0M | -$36.6M | -$80.3M | -$165.3M |
| Interest Expense | $347000 | $971000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-tax Income | -$58.2M | -$52.9M | -$63.0M | -$23.1M | -$42.5M | -$50.6M | -$35.4M | -$36.9M | -$80.6M | -$165.7M |
| Income Tax | -$300000 | -$900000 | -$1.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$57.9M | -$52.0M | -$61.4M | -$23.1M | -$42.3M | -$50.6M | -$35.4M | -$36.9M | -$80.6M | -$165.7M |
| EPS | $-25.44 | $-22.76 | $-22.85 | $-2.51 | $-3.56 | $-2.93 | $-1.33 | $-0.84 | $-1.32 | $-2.27 |
| EPS (Diluted) | $-25.44 | $-22.76 | $-22.85 | $-2.51 | $-3.56 | $-2.93 | $-1.33 | $-0.84 | $-1.32 | $-2.27 |
| Shares Outstanding (Diluted) | $2.3M | $2.3M | $2.7M | $9.2M | $11.9M | $17.2M | $25.8M | $43.9M | $61.3M | $72.9M |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $32.4M | $40.8M | $49.3M | $1.0M | $68.1M | $70.1M | $26.8M | $26.7M | $33.2M | $85.4M |
| Short-term Investments | $96.8M | $61.3M | $68.7M | 0 | $24.5M | 0 | $91.6M | $60.0M | $150.2M | $51.4M |
| Receivables | $347000 | $946000 | $1.5M | $158000 | $32000 | $208000 | 0 | $332000 | $1.1M | $747000 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $130.9M | $104.9M | $121.3M | $4.8M | $98.0M | $72.2M | $120.7M | $90.2M | $195.3M | $142.0M |
| Property, Plant & Equipment | $661000 | $528000 | $375000 | $361000 | $5.0M | $4.5M | $3.7M | $3.8M | $3.7M | $2.7M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $131.6M | $105.5M | $121.8M | $5.2M | $104.7M | $78.7M | $126.4M | $95.9M | $200.2M | $145.8M |
| Accounts Payable | 0 | 0 | $909000 | $3.5M | $2.6M | $1.7M | $1.7M | $1.3M | $2.4M | $5.2M |
| Short-term Debt | $3.6M | 0 | $5.5M | 0 | 0 | 0 | 0 | 0 | 0 | $1.1M |
| Total Current Liabilities | $9.9M | $7.3M | $13.3M | $5.9M | $9.0M | $8.8M | $10.7M | $9.5M | $24.4M | $64.8M |
| Long-term Debt | 0 | $20.0M | $15.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $9.9M | $27.3M | $28.5M | $5.9M | $15.0M | $14.3M | $15.5M | $14.2M | $28.4M | $67.8M |
| Retained Earnings | -$237.5M | -$289.6M | -$350.9M | -$23.1M | -$65.6M | -$116.2M | -$151.6M | -$188.6M | -$269.2M | -$434.8M |
| Total Equity | $121.7M | $78.2M | $93.3M | -$694000 | $89.7M | $64.4M | $110.9M | $81.7M | $171.8M | $78.1M |
| Total Debt | $3.6M | $20.0M | $20.6M | $97000 | $6.5M | $6.0M | $5.4M | $5.5M | $5.1M | $4.1M |
| Net Debt | -$125.6M | -$82.1M | -$97.4M | -$912000 | -$86.1M | -$64.1M | -$113.0M | -$81.2M | -$178.3M | -$132.8M |
| Working Capital | $121.0M | $97.6M | $108.0M | -$1.1M | $89.0M | $63.4M | $110.0M | $80.7M | $170.9M | $77.2M |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | -$57.9M | -$52.0M | -$61.4M | -$23.1M | -$42.5M | -$50.6M | -$35.4M | -$36.9M | -$80.6M | -$165.7M |
| Depreciation & Amortization | $212000 | $188000 | $261000 | $78000 | $155000 | $326000 | $318000 | $311000 | $318000 | $350000 |
| Stock-based Compensation | 0 | 0 | $173000 | $129000 | $2.2M | $5.5M | $6.6M | $7.6M | $8.8M | $7.0M |
| Change in Working Capital | -$5.5M | -$99000 | $593000 | $226000 | -$2.0M | $2.7M | $1.7M | -$2.5M | $6.2M | $47.1M |
| Operating Cash Flow | -$52.0M | -$43.8M | -$51.5M | -$22.7M | -$42.2M | -$42.1M | -$27.6M | -$33.5M | -$70.8M | -$113.2M |
| Capital Expenditure | -$660000 | -$55000 | -$108000 | -$83000 | -$62000 | -$333000 | -$100000 | -$163999 | -$515000 | -$91000 |
| Acquisitions | 0 | 0 | $6.8M | 0 | -$1.3M | -$24502 | $90860 | 0 | 0 | 0 |
| Stock Repurchased | $220000 | $195000 | $67.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$52.6M | -$43.8M | -$51.6M | -$22.8M | -$42.3M | -$42.4M | -$27.7M | -$33.6M | -$71.3M | -$113.3M |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income Growth (YoY) | +10.1% | -18.0% | +62.3% | -83.0% | -19.6% | +30.2% | -4.5% | -118.1% | -105.5% | |
| EPS Growth (YoY) | +10.5% | -0.4% | +89.0% | -41.8% | +17.7% | +54.6% | +36.8% | -57.1% | -72.0% | |
| Shares Change (YoY) | +0.5% | +17.5% | +243.1% | +29.0% | +44.4% | +50.1% | +70.4% | +39.5% | +19.1% | |
| FCF Growth (YoY) | +16.7% | -17.7% | +55.8% | -85.5% | -0.4% | +34.8% | -21.5% | -112.0% | -59.0% | |
| Effective Tax Rate | 0.5% | 1.7% | 2.5% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $-23.14 | $-19.18 | $-19.21 | $-2.47 | $-3.56 | $-2.47 | $-1.07 | $-0.77 | $-1.16 | $-1.55 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $2.3M | $2.3M | $2.7M | $9.2M | $11.9M | $17.2M | $25.8M | $43.9M | $61.3M | $72.9M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -137.39% |
| Return on Invested Capital | -135.25% |
| Return on Assets | -104.42% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.04 |
| Current Ratio | 4.70 |
| Piotroski F-Score | 1 |
| Altman Z-Score | -4.98 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -1.50 | -2.44 | -2.60 | -5.31 | -6.01 | -3.68 | -3.11 | -5.42 | -2.93 | -1.68 |
| P/B | 0.71 | 1.62 | 1.71 | -176.84 | 2.84 | 2.88 | 0.96 | 2.44 | 1.38 | 3.56 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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Explore sector: Healthcare · Biotechnology
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