Biotech Attracts Significant Premarket Buying Pressure

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, September 27, 2022

A North Carolina-based biotech company is seeing some premarket action on Tuesday after the company announced the final results from the Phase 2 VIBRANT study of vurolenatide in short bowel syndrome (SBS) and the outcome of its End-ofPhase 2 meeting with the FDA, according to the release. This spurred some buying pressure for shares of 9 Meters Biopharma Inc. (Nasdaq:NMTR) as we head toward the opening bell.

9 Meters Biopharma Inc is a clinical-stage biopharmaceutical company focused on rare and unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. Its products include NM-002, Larazotide, NM-003 and others.

Traders appear to be bullish on the news as shares of this micro cap are currently bid up at $0.247/share (+19.32% implied open for sellers) at the time of writing. This move would confirm the support found after shares neared the 52-week low during Monday’s session.

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