Metsera’s weight loss drug shows 14.1% reduction in phase 2b trials

NEW YORK - Metsera, Inc. (NASDAQ:MTSR), a $5.5 billion biotech company whose stock has surged 97% year-to-date, reported positive results from two Phase 2b trials of its experimental weight loss drug MET-097i, showing a placebo-subtracted mean weight loss of up to 14.1% after 28 weeks of treatment. According to InvestingPro data, the company’s shares are trading near their 52-week high of $54.47, reflecting strong investor optimism about its pipeline potential.

The trials, VESPER-1 and VESPER-3, evaluated the GLP-1 receptor agonist in participants with overweight or obesity without type 2 diabetes. According to the company’s statement, the drug demonstrated what it described as potentially class-leading tolerability, with minimal diarrhea and relatively low rates of nausea (13%) and vomiting (11%) at the highest evaluated dose after two titration steps. While the company is not yet profitable, with a loss per share of $5.89, InvestingPro analysis shows strong financial health metrics, including a robust current ratio of 5.26, indicating solid short-term liquidity.

In the VESPER-1 trial involving 239 participants, MET-097i was administered once weekly over 28 weeks at doses ranging from 0.4 mg to 1.2 mg without titration. The study showed dose-dependent weight loss, with individual responses as high as 26.5% at the highest dose. An exploratory analysis at 36 weeks indicated continued weight loss with no plateau reached.

VESPER-3, which is still ongoing with 268 subjects, is designed to evaluate monthly dosing of MET-097i over 28 weeks. The planned interim analysis at 12 weeks assessed tolerability of various dose escalation strategies.

Both trials reported high participant retention, with VESPER-1 showing only 2.9% total study discontinuation and just two participants discontinuing due to adverse events.

Based on these results, Metsera plans to initiate Phase 3 clinical trials in late 2025. The company is also conducting additional Phase 2b trials to explore less frequent dosing options and to assess the drug in patients with type 2 diabetes.

MET-097i is being developed as the foundation for several other programs, including combinations with other drug candidates and an oral formulation.

The information in this article is based on a press release statement from Metsera.

In other recent news, Pfizer announced its plans to acquire Metsera, a development-stage biotech company focused on obesity treatments, for an enterprise value of $4.9 billion. The acquisition deal, which includes a contingent value right that could raise the total transaction value to $7.3 billion, represents a 43% premium per share for Metsera. The deal is expected to close in the fourth quarter of 2025. Analysts from Goldman Sachs have maintained a Neutral rating on Pfizer with a price target of $27.00 following the announcement. Meanwhile, Wolfe Research reiterated an Underperform rating for Pfizer, with a target of $25.00, citing upcoming data releases as areas of concern. On the Metsera front, Cantor Fitzgerald continues to hold an Overweight rating, highlighting the company’s promising oral GLP-1 treatments in early development. Additionally, Leerink Partners initiated coverage on Metsera with an Outperform rating, emphasizing the company’s innovative obesity therapeutics. These developments are part of the ongoing strategic moves in the pharmaceutical industry.

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