NMTR - 9 Meters Biopharma under pressure on pricing equity offering

9 Meters Biopharma (NMTR) slumped 18.2% premarket on pricing public offering of ~46.15M common shares at $0.65/share, for gross proceeds of ~$30M.Underwriters' over-allotment is an additional 6,923,077 shares.Offering is expected to close on December 15. Net proceeds together with other available funds will be used to advance the clinical development of NM-002 for the treatment of short bowel syndrome, the continued clinical development of larazotide for the treatment of celiac disease and for working capital and general corporate purposes.Previously: 9 Meters Bio launches equity offering (Dec. 11)

For further details see:

9 Meters Biopharma under pressure on pricing equity offering