Why Are 9 Meters Biopharma Shares Nosediving Today?
Portfolio Pulse from Vandana Singh
9 Meters Biopharma Inc (NASDAQ:NMTR) filed for Chapter 11 bankruptcy protection, causing its shares to plummet. The company will cease operations and its assets will be liquidated. Concurrently, Interim CEO and CFO, Bethany Sensenig, resigned. The company's shares are down 69.50% at $0.19.
July 18, 2023 | 1:36 pm
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9 Meters Biopharma filed for bankruptcy, causing a significant drop in its share price. The company's operations will cease and its assets will be liquidated. The company's Interim CEO and CFO also resigned.
The company's decision to file for bankruptcy and the resignation of its Interim CEO and CFO are significant negative events that directly impact the company's operations and financial stability. This has resulted in a sharp drop in the company's share price.
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