9 Meters Biopharma, Inc. (NASDAQ: NMTR), a clinical-stage biopharmaceutical company specializing in treatments for rare diseases with unmet medical attention. , announced that the Company’s Chief Executive Officer, John Temperato will report a corporate update at Oppenheimer’s Rare & Orphan Disease Summit. NMTR stock price declined adjacent to the news.
At last check-in premarket trading, shares of 9 Meters Biopharma Inc. (NMTR) were down -5.04% at $1.13. NMTR’s stock closed the last session at $1.19, increasing 3.48% or $0.04. Shares of the company fluctuated between $1.13 and $1.21 throughout the day. The shares of 9 Meters Biopharma Inc. have advanced 8.18% in the last five days; however, they have gained 12.26% over the last month.
9 Meters Biopharma, Inc. Receives USAN Approval
United States Adopted Names (USAN) Council has formally appointed NMTR’s long-term injection administered glucagon-like peptide-1 receptor agonist drug candidate for short bowel syndrome, NM-002, as ‘vurolenatide’
Vurolenatide, a unique chemical, is a long-lasting injectable glucagon-like peptide-1 (GLP-1) receptor agonist that makes use of proprietary XTEN technology to substantially increase its half-life in the human bloodstream. Vurolenatide has been shown to significantly enhance gastric motility in several after-surgery phenotypes of short bowel syndrome (SBS) patients by steadily digestive transit period.
This mechanism is also used to enhance intestinal absorption of nutrients and water and diminish diarrhea for people affected with SBSirrespective of parenteral support requirements.
The ending months of 2020 depicted positive statistics from its Phase 1b/2a study in adult patients affected with short bowel syndrome, with NMTR objective to start the largest placebo-controlled Phase 2 trial in SBS in a regulated setting in the second quarter of 2021, which will be inclusive of patients with all after-surgery phenotypes of SBS.
An FDA meeting communication conducted in the first quarter of 2021 supports using total stool output (TSO) as the main efficacy result measured in the Company’s planned vurolenatide Phase 2 study.
The rate of incidence of short bowel syndrome is anticipated at approximately 5 to 10 patients per million people per annum. In adults, the incidence of SBS which needs at-home parenteral nutrition is approximately two adult patients per million people per annum.
Positive topline data for treatment of SBS has been a positive milestone for NMTR however, having an extremely low rate of incidence combined with reduced investor expectation for the corporate update has investors skeptical about company economic feasibility with NMTR stock price declining at last check.