Citi analyst Samantha Semenkow initiated coverage of 9 Meters Biopharma with a Neutral rating and $2.70 price target. The company’s cash runway is only sufficient to support operations through Q1 of 2023 and management is currently exploring all options for financing, the analyst tells investors in a research note. Citi is on the sidelines ahead of assurance that additional capital has been secured. It finds it difficult to recommend a stock "that has such a short runway."
Published first on TheFly
