BUZZ-9 Meters Biopharma slumps after filing for bankruptcy protection

Reuters2023-07-18

** Shares of drug developer 9 Meters Biopharma Inc slump 70.2% to $0.18 premarket

** NMTR says co and its units filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of North Carolina

** Adds co received delisting notice from the Nasdaq and does not intend to appeal it

** The assets of NMTR will be liquidated and claims paid in accordance with the Bankruptcy Code - SEC filing

** The disclosure comes months after it said it was preparing to test an obesity drug candidate in human trials

** Up to last close, NMTR shares down ~51% YTD

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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