Metsera Reports Second Quarter 2025 Financial Results and Continued Portfolio Progress

Core Insights - Metsera, Inc. is making significant progress in its clinical pipeline for obesity and metabolic diseases, with key data releases and clinical milestones expected in the coming years [2][3][4] Pipeline Highlights and Upcoming Milestones - MET-097i: Data from VESPER-1 and interim VESPER-3 trials are expected to be released in September 2025, with Phase 3 initiation on track for late 2025 [4][6] - MET-233i: This once-monthly amylin analog has shown promising Phase 1 results, including an 8.4% weight loss over five weeks and a 19-day half-life, with 12-week monotherapy data anticipated in late 2025 [5][6] - Co-administration data for MET-233i and MET-097i is expected by the end of 2025 or early 2026 [8] - Oral peptide programs are progressing, with four-week data for selected leads expected in late 2025 [9] Financial Overview - As of June 30, 2025, the company reported cash and cash equivalents of $530.9 million, an increase from $352.4 million at the end of 2024, providing a runway into 2027 [9][18] - Research and development expenses for Q2 2025 were $60.5 million, up from $20.9 million in Q2 2024, driven by product candidate development costs [10][20] - General and administrative expenses for Q2 2025 were $11.5 million, compared to $5.6 million in Q2 2024, primarily due to personnel-related expenses [11][20] - The net loss for Q2 2025 was $68.7 million, compared to $26.7 million in Q2 2024, reflecting increased operating expenses [12][20]