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Investing.com -- Metsera , Inc. (NASDAQ:MTSR), a clinical-stage biopharmaceutical company focused on obesity and metabolic diseases, reported a wider-than-expected second quarter loss on Monday, sending its shares down 8.7% as investors reacted negatively to the earnings miss.
The company posted a second quarter loss of -$0.66 per share, missing analyst estimates of -$0.63. The disappointing financial results overshadowed pipeline progress across the company’s portfolio of injectable and oral hormone analogs for obesity treatment.
"The second quarter of 2025 saw rapid progress across our category-leading pipeline of ultra-long acting, combinable injectable and oral nutrient-stimulated hormone analogs," said Whit Bernard, Chief Executive Officer of Metsera.
Research and development expenses surged to $60.5 million in the second quarter, compared to $20.9 million in the same period last year, reflecting increased investment in the company’s clinical programs. General and administrative expenses also rose to $11.5 million from $5.6 million YoY.
The company highlighted positive Phase 1 data from MET-233i, its once-monthly amylin candidate, which demonstrated 8.4% five-week weight loss and a 19-day observed half-life. Metsera also completed enrollment in its VESPER-2 and VESPER-3 studies ahead of schedule.
Metsera maintained a strong cash position of $530.9 million as of June 30, 2025, up from $352.4 million at the end of 2024. Management believes this will fund operations into 2027.
The company remains on track to release topline data from its VESPER-1 trial together with interim data from VESPER-3 in September 2025, and plans to initiate a global Phase 3 program for MET-097i in late 2025.
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