9 Meters Biopharma slips 16% as CEO departs

• 9 Meters Biopharma (NASDAQ:NMTR) lost ~16% in the morning hours Tuesday after announcing that the company’s board accepted the immediate resignation of its President and Chief Executive Officer, John Temperato.
• Bethany Sensenig, the company’s Chief Financial Officer, is expected to take over the leadership position on an interim basis in addition to her current responsibilities.
• 9 Meters (NMTR) also updated on its plans to begin a Phase 3 trial for its lead candidate vurolenatide, in patients with short bowel syndrome (SBS).
• Following a review, the company has decided that an additional Phase 2 trial for vurolenatide will maximize its potential. Due to an ongoing review of various strategic alternatives, NMTR intends to update on its initiation depending on funding availability.

More on 9 Meters

• 9 Meters eyes FDA filing in H2 to start trial of obesity drug NM-136
• 9 Meters Biopharma gains after mid-stage data for short bowel syndrome drug