9 Meters Biopharma, Inc. (NASDAQ: NMTR), a clinical-stage rare and unmet needs-focused gastroenterology company, announced today that it has commenced a proposed underwritten public offering of shares of its common stock. In connection with this offering, 9 Meters Biopharma expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock to be sold in the offering. All of the shares in the proposed offering are to be sold by 9 Meters Biopharma. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

9 Meters Biopharma intends to use the net proceeds of this offering, together with other available funds, to advance the clinical development of NM-002 for the treatment of short bowel syndrome, the continued clinical development of larazotide for the treatment of celiac disease, and for working capital and general corporate purposes.

William Blair & Company, L.L.C. and Truist Securities, Inc. are acting as joint book-running managers for the offering. Oppenheimer & Co., Inc. is acting as lead manager for the offering and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as co-manager for the offering.