Why 9 Meters Biopharma Inc. (NMTR) stock price fluctuated on Thursday?

9 Meters Biopharma Inc. (NMTR) shares lost 1.52% in after-hours on Thursday, December 30, 2021, and closed the daily trading at $0.94. However, in the regular trading session on Thursday, NMTR’s stock gained 0.90%. NMTR shares have risen 6.81% over the last 12 months, and they have moved up 0.77% in the past week. Over the past three months, the stock has lost 26.96%, while over the past six months, it has declined 14.46%.

Let’s discuss its recent news and developments briefly.

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NMTR grant to Carol Rees Parrish

On December 15, 2021, 9 Meters Biopharma, Inc. (NMTR) awarded an unrestricted educational grant to Carol Rees Parrish, M.S., RDN, a GI Nutrition Support Specialist to support a new educational website: SBSCurbside. The educational service will allow Carol, who has longstanding expertise in caring for patients with short bowel syndrome (SBS), to provide clinicians help and education when caring for their SBS patients.

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NMTR latest financial results

On November 15, 2021, 9 Meters Biopharma, Inc. (NMTR) announced its financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • There was no revenue reported for Q3 2021.
  • Total operating expenses were $13.54 million in Q3 2021 compared to $6.30 million in Q3 2020.
  • NMTR suffered a net loss of approximately $13.5 million, or $0.05 per share, for the third quarter of 2021, compared to a net loss of approximately $8.3 million, or $0.06 per share for the third quarter of 2020.
  • The company ended the third quarter with cash and cash equivalents of approximately $53.6 million, compared to approximately $37.9 million on December 31, 2020.

NMTR collaboration with Gustave Roussy

On November 10, 2021, 9 Meters Biopharma, Inc. (NMTR) signed a collaboration agreement with Gustave Roussy, a leading cancer center in Villejuif, France, using 9 Meters’ small molecule tight junction microbiome modulator NM-102. NM-102 is presumed to prevent gut microbial metabolites and antigens from trafficking into the systemic circulation.

Both companies were already working together and their combined research showed that NM-102 was effective both when alone and when combined with ICIs in a transgenic mouse model of spontaneous aggressive skin melanoma. Furthermore, the combination of NM-102 with ICIs improved survival compared to ICIs alone.

According to the new agreement, Gustave Roussy will investigate how tumors in preclinical models may affect intestinal integrity and in turn compromise the fitness of the host’s immune system and its capacity to respond to ICIs.

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Well, we have no recent news or development which could be linked with Thursday’s performance. Let’s see how it performs on Friday?

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