Metsera (MTSR.US) IPO priced between $15 and $17 per share, raising $275 million.

Metsera, a biotechnology company focused on obesity treatment, announced the terms of its initial public offering (IPO) on Monday. The New York-based company plans to raise $275 million by offering 17.2 million shares at a price range of $15 to $17 per share. At the midpoint of the price range, Metsera's fully diluted market capitalization would be $1.8 billion. Metsera is developing next-generation Nutritional Stimulus Hormone (NuSH) mimetic peptides to treat obesity, overweight, and related diseases. Its lead candidate, MET-097i, is a super-long-acting glucagon-like peptide-1 receptor agonist (RA) that is administered subcutaneously once a month, specifically designed for the treatment of obesity and overweight. Currently, MET-097i is in a Phase IIb clinical trial to evaluate its safety and efficacy in obese or overweight patients without type 2 diabetes. The company plans to announce preliminary data from the trial in mid-2025. In addition, Metsera plans to conduct a separate Phase IIb study in obese or overweight patients with type 2 diabetes. Founded in 2022, Metsera is a new star in the biotechnology sector focused on obesity treatment, with its innovative drug development attracting industry attention. The company plans to list on the Nasdaq under the ticker symbol "MTSR." Joint bookrunners for the IPO include Bank of America Securities, Goldman, Evercore ISI, Guggenheim Securities, and Cantor Fitzgerald. Pricing is expected to be completed within the week of January 27, 2025.