The rally in speculative biopharmaceutical stocks continues today, with 9 Meters Biopharma (NASDAQ:NMTR) up nearly 30% in intraday trading. But without any company-specific news, what should you know about NMTR stock? And why is it up on Wednesday?
To start, investors should know the basics of 9 Meters Biopharma. The company Raleigh, North Carolina its home. There, it focuses on rare and unmet conditions, specifically in the realm of gastrointestinal medicine.
With that in mind, here is what you need to know about 9 Meters Biopharma and NMTR stock:
- Investors should be familiar with the core, gastrointestinal focus of 9 Meters Biopharma.
- Importantly, the company is currently advancing candidates for short bowel syndrome and celiac disease.
- Short bowel system refers to a condition caused by a lack of functioning small intestine. As a result, many patients deal with symptoms including diarrhea.
- Celiac disease is a specific type of autoimmune disease where eating gluten causes damage to the small intestine.
- As 9 Meters Biopharma works to treat these conditions, it says over 150 patents support its work.
- But what exactly is the company trying to do? Well, its lead candidate is larazotide, which it hopes will help individuals in tandem with a gluten-free diet.
- Additionally, larazotide is the only drug currently in Phase 3 trials for celiac disease.
- Also importantly, 9 Meters Biopharma is supplying larazotide for Phase 1 trials in Australia. There, scientists will study its effects when applied directly to the lungs.
- Investors should note that 9 Meters hypothesizes that larazotide can help with respiratory distress and lung injury from Covid-19.
- 9 Meters Biopharma anticipates that interim data from its Phase 3 trials will be available early on in 2021.
- What makes this Phase 3 trial so exciting is that celiac disease affects 1% of the population.
- 9 Meters Biopharma has four other candidates in its pipeline, including for short bowel syndrome.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.
