9 Meters Biopharma (NASDAQ: NMTR) stock has been running at low levels over the past four months. Recently, the company announced that it has acquired global development rights to a proprietary and highly specific humanized monoclonal antibody, then, its stock price increased slightly. So, is the stock worth buying now?
LOB-0136 (now known as NM-136), an intellectual property from Lobesity LLC, 9 Meters acquired it and continuing to advance it. Studies to date indicate a potential protective effect of NM-136 against a variety of metabolic conditions. The company said that continuing to advance NM-136 will be a very important step forward for patients currently living with Prader-Willi Syndrome and suffering from this life-threatening disease.
Last month, the company announced that the initiation of its phase 2 trial of vurolenatide, a proprietary long-acting glucagon-like peptide-1 agonist in adults with short bowel syndrome. The phase 2 trial is a study of the safety, efficacy and tolerability of vurolenatide in adult patients with short bowel syndrome, but it takes some time to get its top-line data. With all of this in mind, NMTR stock is currently not yet an attractive penny stock.
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