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Posted 30 May, 2023

9 METERS BIOPHARMA, INC. appointed Bethany Sensenig as new CEO

Nasdaq:NMTR appointed new Chief Executive Officer Bethany Sensenig in a 8-K filed on 30 May, 2023.


  The Board appointed Bethany Sensenig, Chief Financial Officer of the Company, to serve as Interim Chief Executive Officer, and principal executive officer for SEC purposes, of the Company, in addition to her current responsibilities.  

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Overview of 9 METERS BIOPHARMA, INC.
Health Care/Life Sciences • Pharmaceuticals
9 Meters Biopharma, Inc. is a clinical-stage biopharmaceutical company, which focuses on unmet needs in gastroenterology. Its pipeline includes drug candidates for short bowel syndrome (SBS), celiac disease, and three early-stage candidates for undisclosed rare diseases and/or unmet needs. The company is founded by Jay P. Madan and Kendyle Woodard in 2012 and is headquartered in Raleigh, NC.
Market Cap
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Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


John Temperato, the Chief Executive Officer (the "CEO") and a Class II director on the Board of Directors (the "Board") of 9 Meters Biopharma, Inc. (the "Company") resigned from his role as CEO and director of the Company, effective at the close of business on May 26, 2023. The Board appointed Bethany Sensenig, Chief Financial Officer of the Company, to serve as Interim Chief Executive Officer, and principal executive officer for SEC purposes, of the Company, in addition to her current responsibilities. Mr. Temperato's departure is not related to any matter relating to the Company's operations, policies or practice. 


Ms. Sensenig joined the Company as Chief Financial Officer in January 2022. Prior to joining the Company from March 2019 to January 2022, Ms. Sensenig was Chief Financial Officer and Head of U.S. Operations of Minovia Therapeutics, Ltd., a clinical-stage biotech company, where she held a leadership role building the company's business and financing strategy. From April 2006 to March 2019, Ms. Sensenig held various roles at Biogen, Inc. a multinational biotechnology company, where she most recently held the position of Vice President of Finance and Commercial Operations. Earlier in her career, Ms. Sensenig held financial management and analyst roles at Merck & Co. Inc. and Nexus Technologies, Inc. Ms. Sensenig holds a Bachelor of Science in Accounting and Business Management from Montreat College, a Master of Business Administration from Western Carolina University and is a Certified Management Accountant.


Ms. Sensenig is 47 years old and has no familial relationships with any executive officer or director of the Company. There have been no transactions in which the Company has participated and in which Ms. Sensenig had a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K. 


In connection with Mr. Temperato's resignation from employment, the Company has entered into a Separation Agreement and Release with Mr. Temperato, dated May 29, 2023 (the "Separation Agreement"). Pursuant to the Separation Agreement, Mr. Temperato will be entitled to severance benefits including payment of his annual base salary for twelve months (the "Severance Period"), as well as a pro-rated bonus for 2023 at target, and 12 months' additional vesting of his outstanding equity awards. The foregoing will be subject to continued compliance with existing restrictive covenants under his employment agreement with the Company and execution and non-revocation of a release of claims. 


The foregoing summary of the terms of the Separation Agreement is qualified in its entirety by reference to the complete text of the Separation Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.