NMTR - Biotech Attracts Significant Premarket Buying Pressure

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 %ShortBowelSyndrome (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 %9MetersBiopharma () 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.