9 Meters Biopharma Inc (NASDAQ:NMTR) is trading slightly lower in pre-market trading after the news.
As of 8.43, NMTR stock is trading down by 0.87% at $1.14.
NMTR Issues News
9 Meters Biopharma, Inc. Receives USAN Approval to Use the Designated Nonproprietary Name Vurolenatide for Its Long-Acting GLP-1 Agonist for Short Bowel Syndrome
- NMTR announced today that the United States Adopted Names (USAN) Council has officially designated the Company’s long-acting injectable glucagon-like peptide-1 (GLP-1) receptor agonist drug candidate for short bowel syndrome, NM-002, as “vurolenatide.”
“Unlike other agents in development for short bowel syndrome, vurolenatide is distinct not only from other GLP-1 agonists, but especially from GLP-2 agonists. As demonstrated recently in our Phase 1b/2a study, its potential includes rapid onset, sustained duration, and improvement in total stool output (TSO)-which mitigates the chronic diarrhea that profoundly impacts the quality of life for SBS patients,” said John Temperato, President & Chief Executive Officer of 9 Meters.
Patrick H. Griffin, M.D., Chief Medical Officer of 9 Meters, added, “The endpoints and inclusion criteria we plan to deploy in our clinical programs are unique to vurolenatide, have been developed after consultation with the FDA and are intended to reflect what we believe are vurolenatide’s clinical advantages.”
|SHARES OUTSTANDING||250.57 M|
|SHARE FLOAT (%)||238.95 M (94.62%)|
|% HELD BY INSTITUTIONS||24.92|
Recent Stock Performance
|+/- EMA(20)||1.16 (-0.86%)|
|+/- SMA(50)||1.30 (-11.54%)|
|+/- SMA(200)||1.05 (+9.52%)|
|CCI20||-34.9857||Neutral||Chaikin Money Flow||0.0379||Neutral|
|MACD||-0.0441||Sell||Money Flow Index||45.9967||Sell|
|STOCH (14,3)||58.2524||Neutral||STOCH RSI||1.0000||OverBought|