Although most ancient scholars believe that Larissa Phrikonis was the Larissa referred to in the Iliad, most scholars today believe it was Larissa Ptolemais.
While the city has a fair number of mentions during the Peloponnesian War, where it had to pay tribute to Athens, we know little about it during Hellenistic times.
Some believe that its inhabitants were forcibly moved to Antigonos I Monophthalmos’ Antigoneia, later renamed to Alexandria (Troas). Others argue that it was refounded during Ptolemaic times as Larissa Ptolemais. We don’t really know, although there are inscriptions mentioning the city as late as 220 BCE, so there must have still been people there after Alexandria Troas was founded.