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Tag: 9 Meters Biopharma

  • Why The NMTR Stock Fell Afterhours?

    Why The NMTR Stock Fell Afterhours?

    At last check in after-hours trading, shares of clinical-stage company focused on rare and unmet needs in gastroenterology  9 Meters Biopharma Inc. (NMTR) were down -3.23% at $1.20. Last session, 9 Meters closed at $1.24, up 20.39% or $0.21. During regular trading, the share price of NMTR fluctuated between $1.03 and $1.42.

    There were 43.89 million shares of NMTR stock exchanged, more than the daily volume of 5.11 million for the past 50 days and higher than the volume for the year to date. NMTR stock has fallen 101.36% in the past 12 months and has risen 12.73% in the last week. Over the past three months, NMTR shares have increased by 4.20%, and the stock has dropped by -9.49% during the last six months.

    NMTR stock rose during the regular session on news that it will participate in a biotech conference but has lost ground after hours.

    NMTR will participate in which event?

    9 Meters Biopharma is a gastroenterology company focused on rare and unmet needs. NMTR is developing vurolenatide, an orphan disease medicine, in a Phase 2 clinical trial for short bowel syndrome (SBS). Larazotide, another tight junction regulator, is also being evaluated by NMTR to improve symptoms of celiac disease.

    NMTR CEO John Temperato will participate in a virtual fireside chat at a health event, announced 9 Meters Biopharma.

    The NMTR CEO will take part in the William Blair Biotech Focus Conference on July 14-15, 2021. Investors are invited to join NMTR’s webcast live. John Temperato, Chief Executive Officer of 9 Meters Biopharma, will present at the William Blair Biotech Focus Conference on Thursday, July 15, 2021 at 12:00 to 2:45 p.m. Eastern Time.

    The presentation will be webcast live and may be accessed on the Investors page of the company’s website at https://wsw.com/webcast/blair59/nmtr/1964248, where a replay of the presentation will also be available for a 30-day period.

    Moreover, at the conclusion of the annual Russell US Index reconstitution, 9 Meters Biopharma was added to the Russell 3000 Index, a broad-market index, and the Russell 2000 Index, a small-cap index. As of the opening of the US equity markets on Monday June 28, 2021, these updated Indexes are in effect.

    The Russell indexes represent the 4,000 biggest US stocks based on their total market capitalization as of May 7, 2021. FTSE Russell determines membership for its Russell indexes primarily through objective rankings and criteria that are associated with market capitalization.

    What its addition to Russell means for NMTR?

    NMTR’s perseverance and accomplishments, including adding 9 Meters to the Russell Indexes, are indicative of its efforts to become a treatment leader in rare and unmet gastrointestinal disorders. By including 9 Meters Biopharma (NMTR) in the Russell Indexes, the company will raise its visibility when it is nearing several key milestones.

  • What Is Motivating The NMTR Stock Surge Premarket?

    What Is Motivating The NMTR Stock Surge Premarket?

    In premarket trading on Tuesday, 9 Meters Biopharma Inc. (NMTR) shares were up 3.51% at $1.18. At the end of last trading session, 9 Meters stock closed at $1.14, down 5.0%. A trading volume of 13.59 million shares was recorded by NMTR stock in the last trading session, much higher than the average daily volume of 4.2 million shares for the previous 50 days.

    In the past five days, NMTR’s stock has retreated -18.57%. Over the past month, the stock has fallen -10.24%. In the last three months, the price of NMTR stock has dropped by 13.64%, but has gained 32.71 percent so far this year. After joining the Russell index last session, NMTR stock has been rising.

    Has Russell index’s inclusion impacted NMTR?

    9 Meters Biopharma focuses on rare and unmet gastroenterology needs. NMTR will enroll vurolenatide, a proprietary long-acting GLP-1 agonist, in a Phase 2 clinical trial for short bowel syndrome (SBS). SBS is NMTR’s focal point due to its rarity and orphan status, as well as its Phase 3 tight junction regulator, which is being evaluated for signs and symptoms of non-responsive celiac disease.

    At the conclusion of the Russell US Indexes annual reconstitution, 9 Meters joined the Russell 3000 Index and the Russell 2000 Index for broad-market and small-cap companies, respectively.

    • On June 28, 2021, after the opening of the US equities markets, these updated indices took effect.
    • The Russell indexes are reconstituted annually and contain 4,000 of the largest US stocks as of May 7, 2021, ranked by market capitalization.
    • NMTR’s achievement of adding 9 Meters to this Russell Index is an indication of both the perseverance and achievement of the team as it continues to work towards becoming the treatment leader for rare, unmet gastroenterology disorders.
    • As NMTR gains momentum towards several milestones, inclusion in the Russell Indexes will increase its visibility among the international investment community.

    NMTR stepping towards its goals:

    9 Meters Biopharma (NMTR) recently initiated its Phase 2 trial of vurolenatide, a proprietary long-acting glucagon-like peptide-1 (GLP-1) agonist in adults with SBS. 9 Meters Biopharma is launching a Phase 2 trial of vurolenatide, which represents an important accomplishment for not only the company, but also for patients and families suffering from the devastating effects of SBS, including chronic diarrhea. As a result, NMTR may be a step closer to having longer-acting, more rapid-onset therapy and with a lower safety profile than any currently available therapy, potentially for the benefit of patients.

  • Why 9 Meters Biopharma, Inc. (NMTR) stock is gaining in Pre-Market today?

    Why 9 Meters Biopharma, Inc. (NMTR) stock is gaining in Pre-Market today?

    9 Meters Biopharma, Inc. (NMTR) stock was green in the pre-market trading session after suffering the drop of 4.31% at the previous closing. NMTR stock price saw a push of 13.51% to reach $1.26 a share at the time of this writing. There is no particular activity related to NMTR stock in today’s date however, 9 Meters stock on April 5, 2021, announced the closing of an offering of its common stock. Let’s deep dive to explore more of it.

    What’s happening?

    NMTR recently announced the closing of an offering of  34,500,000 shares of its common stock including additional sales of shares by underwriters at the public price of $1.00 a share. The offering was initiated on March 30, 2021, in which underwriters were granted the 30-day option to sell additional 4,500,000 shares of the common stock of NMTR. The gross proceeds were expected $30 million at that time without deducting the underwriting discounts and offering related expenses while the net proceeds resulted from these offerings after deducting underwriters’ discounts and other expenses were recorded at approximately 31.5 million at the closing of the offering.

    Financial View of NMTR stock:

    On March 22, 2021, NMTR announced its fourth quarter and full-year 2020 financial results according to which 9 Meter bore $5.0 million or $0.03 per share net loss in the fourth quarter of 2020 as compared to $8.5 million or $0.25 per share net loss in the same quarter of the previous year. For the full fiscal year 2020, the net loss of NMTR stock was  $61.5 million or $0.58 per while it was $27.0 million or $0.81 per share in 2019.

    As of December 31, 2020, NMTR had cash and cash equivalents of $37.9 million which were significantly higher than the $4.6 million cash and cash equivalents at the end of 2019. As of March 19, 2021, NMTR generated additional proceeds of $6.7 million from warrant exercises.

    Conclusion:

    It seems that NMTR stock is hot among investors today, but it would be interesting to see how long this trend would persist in the future.Net proceeds were recorded more than the expected gross proceeds from the offering of NMTR stock. The financial report tells that 9 Meter has increased the value of its assets over the year. In short, investors should keep an eye on this stock.

  • Why 9 Meters Biopharma, Inc. (NMTR) stock decreased in pre-market?

    9 Meters Biopharma, Inc. (NMTR) stock increased 3.03% closing at $1.36 compared to the previous day closing of $1.32 but in the premarket, the NMTR stock decreased by 15.44% to $1.15. NMTR announced that it has initiated a proposed underwritten public offering of its shares of common stock on March 30th, 2021.

    Overview of 9 Meters Biopharma, Inc.

    9 Meters Biopharma Inc. is a biotech company that focuses on rare and unmet needs of gastroenterology. NMTR is headquartered in the Research Triangle, East Coast, Southern United States. NMTR is advancing itself towards a phase-2 trial for the drug candidates for non-responsive celiac disease, an immune disease, and a phase 3 trial for short bowel syndrome, a rare orphan disease. NMTR is backed by over 150 patents worldwide and owns all the global rights to their products. NMTR has a strong management team that has a history of bringing novel therapeutics to the market.

    NMTR proposed a public offering of common stock

    On Tuesday, 30th March 2021, 9 Meters announced that it has initiated a proposed underwritten public offering of its shares of common stock. It is expected that NMTR will grant underwriters a 30-day option to purchase the additional 15% common stock shares that will be sold during the public offering. NMTR itself will sell all the shares in the proposed offering. There is no assurance that the offering will be completed and it is subject to the market and other conditions. The joint book-running managers for the proposed offering are William Blair & Company, LLC and Citigroup. NMTR announced that it will be offering 30,000,000 shares of its common stock to the public at a price of $1 per share. It is expected that the offering will close at 5th of April. The gross proceeds of NMTR from the public offering are expected to be $30 million, prior to the deduction of offering expenses payables, underwriting discounts, and commissions. An initial prospectus related to the proposed offering of NMTR will be filed with the Securities and Exchange Commission (SEC) and will later be available on SEC’s website. The copies of the prospectus related to the offering will also be available to be obtained from Citigroup Global Markets Inc. The final report of the offering will be revealed in a final prospectus to be filed with the SEC.

  • Biotech Roundup &The delivery of the Pfizer’s vaccine to U.S. – starts Today

    Biotech Roundup &The delivery of the Pfizer’s vaccine to U.S. – starts Today

    This weekend, the U.S. government is packaging millions of doses of the coronavirus vaccine from Pfizer and BioNTech for distribution to places around the country, a mammoth logistics task in favor of what could be the most difficult immunization campaign in history.

    In delivering the vaccine, which is delicate and needs careful care, FedEx and UPS would play key roles. At the terminal, shipments can gain preferential entry. If a plane arrives to land with vaccinations, other passenger flights may have to loop around to wait for their chance.

    The arrival of the first vaccines comes as the virus continues to rage through the USA, with more than 207,000 new cases identified on Saturday by authorities. That took the number to more than 16 million, the most in the world by far. For the first time on Wednesday, more than 3,000 deaths were reported, and the country’s number is nearing 300,000.

    vTv Therapeutics Inc. (NASDAQ:VTVT) shares were trading up 41.55% at $3.10 at the time of writing on Friday. The firm on November 25, 2020 announced common stock purchase agreement for up to $47 million with Lincoln Park Capital.

    vTv Therapeutics Inc. (NASDAQ:VTVT) share price went from a low point around $1.44 to briefly over $4.23 in past 52 weeks, though shares have since pulled back to $3.10. VTVT market cap has remained high, hitting $161.79M at the time of writing, giving it price-to-sales ratio of more than 7350.

    If we look at the recent analyst rating VTVT, H.C. Wainwright initiated coverage on VTVT shares with a Buy rating.

    aTyr Pharma Inc. (LIFE) last closed at $4.64, in a 52-week range of $2.13 to $7.62. The company on November 13, 2020 released third quarter results and provided a corporate update.

    ADiTx Therapeutics Inc. (ADTX) stock soar by 3.77% to $2.48. The firm reported on December 8, 2020, that it will present at the 13th annual LD Micro main event conference on Tuesday, December 15, 2020 at 11:00 AM EST / 8:00 AM PST.

    9 Meters Biopharma Inc. (NASDAQ:NMTR) Shares headed falling, lower as much as -11.75%.

    Iterum Therapeutics plc (NASDAQ:ITRM) rose 11.72% after gaining more than $0.1 on Friday. The biotechnology firm declared on December 7,2020, filing of US patent application based on favorable written opinion of the International Search Authority.

    Vaxart Inc. (VXRT) last closed at $7.44, in a 52-week range of $0.28 to $17.49.

    Catabasis Pharmaceuticals Inc. (CATB) stock soar by 14.51% to $2.21. The most recent rating by Wedbush, on November 02, 2020, is at a Neutral.

    Advaxis Inc. (NASDAQ:ADXS) Shares headed rising, higher as much as 3.56%. The company on November 27, 2020 reported the closing of $9.2 million public offering. The most recent rating by Barclays, on August 03, 2016, is at an Overweight.

    Xeris Pharmaceuticals Inc. (NASDAQ:XERS) rose 11.74% after gaining more than $0.48 on Friday following an announcement from the company that the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has adopted a positive Opinion for Ogluo™ (glucagon).

    Novavax Inc. (NVAX) last closed at $124.88, in a 52-week range of $3.65 to $189.40. The firm on December 9, 2020, declared the appointment of Margaret G. McGlynn, R. Ph. to its board as an independent director. Analysts have a consensus price target of $186.20.

    Corbus Pharmaceuticals Holdings Inc. (CRBP) stock soar by 1.52% to $1.34. The most recent rating by ROTH Capital, on September 08, 2020, is at a Neutral.

    Adaptimmune Therapeutics plc (NASDAQ:ADAP) Shares headed falling, lower as much as -1.23%. The most recent rating by Mizuho, on April 22, 2020, is at a Neutral.

    Novan Inc. (NASDAQ:NOVN) rose 1.10% after gaining more than $0.01 on Friday.

    Nabriva Therapeutics plc (NBRV) last closed at $2.44, in a 52-week range of $3.26 to $18.29. The company recently announced pricing of $15 million public offering.

    Salarius Pharmaceuticals Inc. (SLRX) stock drop by -31.34% to $0.92 after declaring that it has entered into agreements with several institutional and accredited investors to exercise of warrants for $3.5 million of gross proceeds to be used for ongoing development of Seclidemstat. The most recent rating by Ladenburg Thalmann, on April 27, 2020, is at a Buy.