9 Meters Biopharma
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
A biotechnology business focused on therapies for gastrointestinal conditions, including rare disorders.
02 / 9 Meters Biopharma FAILURE REASONS
Failure factors supported by the current evidence
Fierce Biotech, citing the bankruptcy-court filing and the company’s own May clinical update, reported that 9 Meters could not continue with about $152,000 cash, after vurolenatide was steered to an additional Phase 2 rather than Phase 3 and while a convertible-note forbearance was in place.
Court filing: about $152,000 cash on hand; company told the court it could not continue
Company May 2023 update: additional Phase 2 for vurolenatide instead of Phase 3 after FDA feedback
Convertible-note forbearance (later terminated by the bankruptcy filing, per the 8-K)
03 / EVENT HISTORY
Events in the structured record
- Liquidation
The company and subsidiaries ceased operations and filed liquidation bankruptcy in E.D.N.C. (23-01992-5-PWM). A trustee was to liquidate assets; officers and directors resigned; Nasdaq moved to delist. This is company shutdown via liquidation, not a product-only halt.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Rare-GI pipeline burned cash; Nasdaq bid-price warning June 2023
- 02
Strategic alternatives exhausted; about $150K cash left
- 03
Operations ceased; Chapter 7 liquidation filed July 17, 2023
- 04
Nasdaq delisting; assets sold off by the trustee