9 Meters Biopharma, Inc. filed a motion in the US Bankruptcy Court for the sale of its "The NM-136 assets" and "The remaining assets" on November 27, 2023. The debtor seeks the Court?s approval for the sale of its certain assets to Incregen, the stalking horse bidder, for a purchase price of $1.8 million (the NM-136) and $0.15 million (remaining assets) in cash. The debtor?s assets include the NM-136 and the remaining intellectual property assets.

To qualify as a qualified bidder, interested parties should submit a good-faith deposit in the amount of 10% of the cash portion of the purchase price. At the auction, the subsequent bids would be in increments of $0.025 million.