9 Meters Biopharma rises on positive FDA meeting for obesity drug

9 Meters Biopharma

05/04/2023 14:51

** Shares of drug developer 9 Meters Biopharma Inc  NMTR.O 
rise 2.24% to $1.37
    ** Co says it has received positive feedback from the U.S.
health regulator regarding the pre-clinical development and
proposed early-stage human study design for its exprimental
obesity drug   
    ** NMTR plans to submit the application to conduct human
trials with the U.S. FDA and initiate the early-stage study in
the second half of this year
    ** The drug candidate, NM-136, is an antibody-based drug
targeting a hormone called gastric inhibitory polypeptide WHICH
has been shown to promote fat accumulation in humans -NMTR  
    ** Including session's gains, stock up ~7.2% this year

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))