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Investing.com -- Metsera, a clinical-stage biotechnology firm, debuted on the Nasdaq Global Select Market today. After initially offering its common stock to the public at $18.00 per share, the company’s shares opened for trading at a higher price of $25.50.
The initial public offering (IPO) consisted of 15,277,778 shares of the company’s common stock. The shares are now trading under the ticker symbol "MTSR" on the Nasdaq Global Select Market.
Several prominent financial firms, including BofA Securities, Goldman Sachs & Co (NYSE:GS). LLC, Evercore ISI, Guggenheim Securities, and Cantor, are acting as joint bookrunners for the offering.
In addition to the initial offering, Metsera has also provided the underwriters with a 30-day option. This option allows them to purchase up to an additional 2,291,666 shares of the company’s common stock. However, these additional shares would be available at the initial public offering price minus any underwriting discounts and commissions.
Metsera is not just any biotech firm. It’s a clinical-stage company that is working on next-generation injectable and oral nutrient-stimulated hormone (NuSH) analog peptides. The company’s primary focus is on treating obesity, overweight, and related health conditions.
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