9 Metres Biopharma Inc. (NMTR) Stock Extends Rally: Up 25% in a Month

9 Metres Biopharma Inc. (NASDAQ:NMTR) is up 25% in a month. The company has announced that its CEO John Temperato will present at the H.C. Wainright 23rd Annual Global Investment Conferences and engage investors in one-on-one meetings.

The virtual conference will take place between September 13 and September 15, and all participants will join the conference remotely. In addition, Temperato and CFO Ed Sitar will meet investors virtually during the conference.

Recently the company announced a collaboration deal with the European Biomedical Research Institute of Salerno, Italy, to evaluate larazotide in multisystem inflammatory syndrome treatment in children. Larazotide is a proprietary tight junction regulator the company is developing that is currently in the third phase of clinical development for celiac disease treatment in adults.

 Multisystem inflammatory syndrome in children is a rare and severe COVID-19 complication with symptoms mimicking those of Kawasaki disease. After receipt of the Stud May Proceed notice from the FDA, EBRIS will commence Phase 2a trial in MIS-C in the fourth quarter. So, in the coming months, NMTR is worth keeping an eye on.

Market Reaction:

On Wednesday, NMTR stock gained 0.75% at $1.34 with more than 3.37 million shares, compared to its average volume of 4.39 million shares. The stock has moved within a range of $1.3300 – 1.3900 after opening the trade at $1.38.