Drug developer 9 Meters Biopharma files for bankruptcy protection (updated)

9 Meters Biopharma

18/07/2023 13:25

(Adds details on drug pipeline in paragraphs 2,3)
       July 18 (Reuters) - Drug developer 9 Meters Biopharma
 NMTR.O  and its units have filed for Chapter 11 bankruptcy
protection, it said in a regulatory filing on Tuesday, sending
its shares tumbling 66% in premarket trading.
    The disclosure comes months after it said it was preparing
to test an obesity drug candidate in human trials. 
    The company was also testing another drug candidate,
vurolenatide, in a mid-stage trial for the potential treatment
of short bowel syndrome. 
  

 (Reporting by Bhanvi Satija in Bengaluru; Editing by Arun
Koyyur)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
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