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Private company

Metsera, Inc.

In its 2025 annual report the company says: “We are a clinical-stage biotechnology company developing next-generation injectable and oral nutrient stimulated hormone analog peptides to treat obesity, overweight and related conditions.”3 It is headquartered in New York, New York.1

Last updated Oct 21, 2026.

Overview

  • IndustryPharmaceutical Preparations1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address3 World Trade Center, 175 Greenwich Street, New York, Ny 100072
  • Filer category, Emerging growth company2
  • Legal formCorporation

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We are a clinical-stage biotechnology company developing next-generation injectable and oral nutrient stimulated hormone ("NuSH") analog peptides to treat obesity, overweight and related conditions. Obesity and overweight are among the fastest-growing and most prevalent chronic human conditions, affecting approximately 2.5 billion people worldwide and driving a broad range of severe diseases. Currently approved NuSH analog peptides are a promising treatment option for obesity and overweight. However, the current treatment landscape exhibits several key limitations, including impediments to chronic therapy in large populations, such as administration by weekly injection, prolonged titration and tolerability issues; insufficient weight loss; lack of effective, well-tolerated oral dosing alternatives; and challenges in scaling manufacturing. We have developed and are implementing proprietar…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income4-$224.8M in 2024+415% since 2023
-$300.0M-$200.0M-$100.0M02023: -$43.7M-$43.7M20232024: -$224.8M-$224.8M2024+415%
Net income4-$209.1M in 2024+343% since 2023
-$300.0M-$200.0M-$100.0M02023: -$47.2M-$47.2M20232024: -$209.1M-$209.1M2024+343%
Fiscal year2022202320242025
Research and development$15.6M4$107.5M4
Operating expenses$43.7M4$224.8M4
Operating income-$43.7M4-$224.8M4
Income before tax-$47.2M4-$218.5M4
Income tax$04-$9.3M4
Net income-$47.2M4-$209.1M4
Earnings per share-$3.484-$14.494
Earnings per share (diluted)-$3.484-$14.494
Shares (weighted, basic)13.6M shares414.4M shares4
Shares (weighted, diluted)13.6M shares414.4M shares4

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Corporate structure

Metsera, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Metsera, Inc.

  • Metsera, Inc. New York, New York

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Metsera, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$57.0K4 Dec 31, 2024$27.0K4 Dec 31, 2023+111.1%
Operating-lease assets (leased space)$1.4M4 Dec 31, 2024

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$352.4M4 Dec 31, 2024

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$21.9M4 Dec 31, 2024$22.2M4 Dec 31, 2023−1.3%
Intangible assets, net (excluding goodwill)$68.5M4 Dec 31, 2024$69.4M4 Dec 31, 2023−1.3%

Properties, in its own words

Our principal office is located at 3 World Trade Center, 175 Greenwich Street, New York, New York 10007 where we lease office space under a shared space arrangement that currently expires in November 30, 2026. We believe that our facilities are sufficient to meet our current needs and that suitable additional space will be available as and when needed.

Item 2 of the 10-K filed Mar 26, 2025.3

Leadership

Who has led Metsera, Inc., and when. Pick a name to see everywhere that person has worked.

Chair

  1. Clive Meanwell2025–now

Chief financial officer

  1. Christopher Visioli2025–now
Board members and other officers (9)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorChristopher Whitten Bernard named Nov 20, 202417

Timeline

  1. Nov 13, 20258-K Completed an acquisition or sale; Listing notice or transfer; Change to shareholders' rights18
  2. Nov 10, 20258-K Entered a material agreement; Other events19
  3. Nov 6, 20258-K Other events20
  4. Nov 4, 20258-K Other events21
  5. Nov 3, 20258-K Other events22
  6. Nov 3, 20258-K Other events23
  7. Oct 30, 20258-K Other events24
  8. Sep 29, 20258-K Regulation FD disclosure; Other events25
  9. Sep 22, 20258-K Entered a material agreement; Executive or director change; Regulation FD disclosure26
  10. Jul 28, 20258-K Results of operations27
  11. Jun 9, 20258-K Other events28
  12. May 12, 20258-K Results of operations29

Calendar

When it reported results

  1. Jul 28, 2025Reported quarterly or annual results27
  2. May 12, 2025Reported quarterly or annual results29
  3. Mar 26, 2025Reported quarterly or annual results30

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

108 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 16 major events, 48 insider forms, 10 large holders, 1 private raises, 29 other. The latest 20:

  1. Feb 17, 2026SCHEDULE 13G/A EDGAR
  2. Nov 24, 202515-12G EDGAR
  3. Nov 17, 20254 EDGAR
  4. Nov 17, 2025SCHEDULE 13G/A EDGAR
  5. Nov 14, 2025SCHEDULE 13G EDGAR
  6. Nov 14, 20254 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  7. Nov 14, 2025SCHEDULE 13D/A EDGAR
  8. Nov 13, 2025SCHEDULE 13G/A EDGAR
  9. Nov 13, 20254 EDGAR
  10. Nov 13, 20254 EDGAR
  11. Nov 13, 20254 EDGAR
  12. Nov 13, 20254 EDGAR
  13. Nov 13, 20254 EDGAR
  14. Nov 13, 20254 EDGAR
  15. Nov 13, 20254 EDGAR
  16. Nov 13, 20254 EDGAR
  17. Nov 13, 20254 EDGAR
  18. Nov 13, 20254 EDGAR
  19. Nov 13, 20254 EDGAR
  20. Nov 13, 20254 EDGAR

The 108 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

5 open-market trades by officers, directors and large owners since October 2021: 3 buys and 2 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 3, 2025FMR LLC10% ownerSale193$61.23$11.8KForm 4
Sep 2, 2025FMR LLC10% ownerSale268$36.00$9.6KForm 4
Feb 3, 2025Burow KristinaDirectorBuy2,222,222$18.00$40.0MForm 4
Feb 3, 2025BERNS PAUL LDirectorBuy789,998$18.00$14.2MForm 4
Feb 3, 2025GILLIS STEVENDirectorBuy2,222,222$18.00$40.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$215.0M 2024–2024
Money received by yearMoney received by year, 2024–2024: $215.0M in all. Private raises (Form D) $215.0M.$0$100M$200M$300M2024 · Private raises (Form D): $215.0M2024
Figures by year
YearPrivate raises (Form D)Total
2024$215.0M$215.0M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Nov 12, 2024Raised $215 million in a private offering of equity17 Form D: 38 investors so far Form D

SEC filer profile

How Metsera, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMetsera, Inc.1
  • CIK0002040807
  • Employer ID (EIN)92-09315523
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address3 World Trade Center, 175 Greenwich Street, New York, NY 100071
  • Phone(212) 784-65951
  • Shares outstanding105,376,189 as of Nov 6, 20256
  • Public float$0 as of Jun 28, 20244
  • AuditorErnst & Young LLP, Iselin, New Jersey PCAOB ID 42; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceNov 4, 20241
  • Filings109 in all: 4 (33), 8-K (16), 3 (14), CORRESP (5), DEFA14A (5), SCHEDULE 13G (4), SCHEDULE 13G/A (4), 10-Q (3)1
    All 30 form types

    UPLOAD (3), SEC STAFF LETTER (2), 10-K (1), 15-12G (1), 25-NSE (1), 4/A (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), DEFM14A (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), PREM14A (1), S-1 (1), S-1/A (1), S-8 (1), S-8 POS (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 26, 2025
    Quarterly report (10-Q) Nov 12, 2025
    Latest 8-K (8-K) Nov 13, 2025

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.00001 per shareMTSRThe Nasdaq Global Select Market

From the cover page of the 10-K filed Mar 26, 2025 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Metsera, Inc. names in Item 1A of its 10-K filed Mar 26, 2025: 73 risks under these headings, as written.3

  • Risks Related to Our Limited Operating History, Financial Position and Capital Requirements
  • We are a clinical-stage biotechnology company with a limited operating history and no history of commercializing products, and have incurred significant operating losses since our inception and expect to incur significant losses for the foreseeable future.
  • We may never generate any revenue or become profitable or, if we achieve profitability, we may not be able to sustain it.
  • We will require substantial additional capital to finance our operations, and a failure to obtain this necessary capital when needed on acceptable terms, or at all, could force us to delay, limit, reduce or terminate our development programs, commercialization efforts or other operations.
  • Raising additional capital may cause dilution to our stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • Risks Related to the Development and Regulatory Approval of Our Product Candidates
  • We currently depend entirely on the success of our product candidates. Drug development is a highly uncertain undertaking and involves a substantial degree of risk. If we are unable to successfully develop any of our current or future product candidates, or experience significant delays in doing so, our business will be materially harmed.
  • Preclinical development is uncertain. Our preclinical programs may experience delays or may never advance to clinical trials, which would adversely affect our ability to obtain regulatory approvals or commercialize these programs on a timely basis or at all, which would have an adverse effect on our business.
  • Clinical and preclinical development involves a lengthy and expensive process with an uncertain outcome, and the results of prior clinical trials and studies involving our product candidates are not necessarily predictive of our future results. Our product candidates may not show favorable results in preclinical studies or clinical trials or receive regulatory approval on a timely basis, if at all.
  • Any difficulties or delays in the commencement or completion, or the termination or suspension, of our current or planned clinical trials or preclinical studies could result in increased costs to us, delay or limit our ability to receive approval for and commercialize any product candidates and generate revenue.
  • We may find it difficult to enroll patients in our clinical trials. If we encounter difficulties or delays enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Use of any of our current or future product candidates could be associated with side effects, adverse events or other properties or safety risks, which could delay or preclude regulatory approval, cause us to suspend or discontinue clinical trials, abandon any of our current or future product candidates, limit the commercial profile of an approved label or result in other significant negative consequences that could severely harm our business, financial condition, results of operations and prospects.
The other 62 risks
  • We currently, and may in the future, conduct certain of our clinical trials for our product candidates outside of the United States. However, the FDA and foreign regulatory authorities may not accept data from such trials, which could materially harm our business.
  • Interim, topline and preliminary data from our clinical trials and preclinical studies that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time-consuming and inherently unpredictable, and if we are ultimately unable to obtain regulatory approval for our product candidates, our business will be substantially harmed.
  • Additional time may be required to obtain marketing authorizations for any product candidates that we develop as biologic-device combination products.
  • Even if we obtain FDA approval for any of our product candidates in the United States, we may never obtain approval for or commercialize such candidates in any other jurisdiction, which would limit our ability to realize their full market potential.
  • Even if we receive regulatory approval for any product candidate, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense, and we may be subject to penalties if we fail to comply with regulatory requirements.
  • The FDA and other regulatory agencies actively enforce the laws and regulations prohibiting the promotion of off-label uses.
  • Disruptions at the FDA, the SEC, and other government agencies caused by funding shortages or global health concerns could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner, or otherwise prevent those agencies from performing normal business functions on which the operation of our business may rely, which could have a negative impact on our business.
  • Risks Related to Our Reliance on Third Parties
  • We rely on third parties to conduct our clinical trials and preclinical studies. If these third parties do not successfully carry out their contractual duties, comply with applicable regulatory requirements, or meet expected deadlines, any of our current or future product candidates and our ability to seek or obtain regulatory approval for or commercialize any of our current or future product candidates may be delayed.
  • We currently rely on third parties for the manufacture and shipping of our product candidates for clinical development, which increases the risk that we will not have sufficient quantities of our current or future product candidates or such quantities at an acceptable cost, which could delay, prevent, or impair our development or commercialization efforts.
  • We have entered into license and collaboration agreements, and may in the future enter into further strategic alliances, to maximize the potential of our product candidates, and we may not realize the anticipated benefits of such collaborations or alliances. We may continue to form collaborations or alliances in the future with respect to any of our current or future product candidates, but may be unable to do so or to realize the potential benefits of such transactions, which may cause us to alter or delay our development and commercialization plans.
  • Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor or other third party will discover them or that our trade secrets will be misappropriated or disclosed.
  • Risks Related to Commercialization of Our Product Candidates
  • We face significant competition from entities that have made substantial investments into developing novel treatment for patients with obesity and overweight, including large pharmaceutical companies with approved therapies in our current indications, and biopharmaceutical, specialty pharmaceutical and biotechnology companies developing novel treatments and technology platforms.
  • Any product candidates for which we intend to seek approval as biologic products may face competition sooner than anticipated.
  • The commercial success of any of our current or future product candidates will depend upon the degree of market acceptance of such product candidates by physicians, patients, healthcare payors and others in the medical community.
  • The successful commercialization of any of our current or future product candidates, if approved, will depend in part on the extent to which governmental authorities and health insurers establish coverage, adequate reimbursement levels and favorable pricing policies.
  • Economic uncertainty may reduce patient demand for any of our current or future product candidates, if approved, which may adversely affect our business, financial condition and results of operations.
  • If we receive regulatory approvals for any of our current or future product candidates, we may face substantial competition from compounding pharmacies.
  • If the market opportunities for any of our current or future product candidates are smaller than we believe they are, our revenue may be adversely affected, and our business may suffer.
  • We currently have no marketing and sales organization and have no experience as a company in commercializing products, and we may need to invest significant resources to develop these capabilities.
  • Our future growth may depend, in part, on our ability to operate in foreign markets, where we would be subject to additional regulatory burdens and other risks and uncertainties.
  • Risks Related to Our Business Operations and Industry
  • Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
  • Our success is dependent on our ability to attract and retain highly qualified management and other clinical and scientific personnel.
  • We will need to grow our organization, and we may experience difficulties in managing our growth and expanding our operations, which could adversely affect our business.
  • We may expend our limited resources to pursue a particular product candidate in specific indications and fail to capitalize on product candidates or indications that may be more profitable or for which there is a greater likelihood of success.
  • We are subject to various U.S. federal, state and foreign healthcare laws and regulations, which could increase compliance costs, and our failure to comply with these laws and regulations could harm our reputation, subject us to significant fines and liability or otherwise adversely affect our business.
  • Current and future U.S. healthcare reform legislation or regulation may increase the difficulty and cost for us to obtain coverage for and commercialize any of our current or future product candidates and may adversely affect the prices we may set.
  • If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit, delay or cease commercialization of our products.
  • Our insurance policies are expensive and protect us from only some business risks, which will leave us exposed to significant uninsured liabilities.
  • We and our service providers may be subject to a variety of data protection, privacy and security obligations, including laws, regulations, standards and contractual provisions, which could increase compliance costs, and our actual or perceived failure to comply with such laws and obligations could subject us to potentially significant liability, fines or penalties and otherwise harm our business.
  • Our information technology systems, or those of any of our third-party service providers, may fail or suffer security incidents, breaches, or compromises and other disruptions, which could result in a material disruption of our development programs, compromise sensitive information related to our business or prevent us from accessing critical information, potentially exposing us to liability or otherwise adversely affecting our business.
  • Our business could be affected by litigation, government investigations and enforcement actions.
  • Our employees and independent contractors, including collaborators, principal investigators, CROs, consultants and vendors, may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • We may engage in strategic transactions that could impact our liquidity, increase our expenses, and present significant distractions to our management.
  • Public opinion and scrutiny of treatments for obesity and overweight may impact public perception of our company and product candidates, or may adversely affect our ability to conduct our business and our business plans.
  • Our ability to use net operating loss carryforwards and other tax attributes may be limited.
  • Risks Related to Our Intellectual Property
  • If we or our licensors are unable to obtain, maintain, defend and enforce patent or other intellectual property protection for any of our current or future product candidates or technology, or if the scope of the patent or other intellectual property protection obtained is not sufficiently broad, our competitors or other third parties could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize any of our current or future product candidates may be adversely affected.
  • If we fail to comply with our obligations in the agreements under which we license intellectual property rights from third parties or otherwise experience disruptions to our business relationships with our licensors, or if any of our material license agreements are terminated, we could lose our rights to key intellectual property and components enabling our technologies.
  • We may not be able to protect our intellectual property and proprietary rights throughout the world.
  • Obtaining and maintaining our owned and in-licensed patent protection depends on compliance with various procedural, document submission, fee payment, and other requirements imposed by government patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Changes in patent laws or their interpretations could diminish the value of patents in general, thereby impairing our ability to protect our products.
  • Issued patents covering any of our current or future product candidates could be found invalid or unenforceable if challenged in court or before administrative bodies in the United States or abroad.
  • Patent terms may be inadequate to protect the competitive position of any of our current or future product candidates for an adequate amount of time.
  • If we do not obtain patent term extension and equivalent extensions outside of the United States for any of our current or future product candidates, our business may be materially harmed.
  • We or our licensors may be subject to claims challenging the inventorship or ownership of our owned and in-licensed patents and other intellectual property.
  • If we are unable to protect the confidentiality of our and licensors’ trade secrets, our business and competitive position would be harmed.
  • We may be subject to claims that our employees, consultants, or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers or claims asserting ownership of what we regard as our own intellectual property.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might adversely affect our ability to develop and market any of our current or future product candidates.
  • Third-party claims of intellectual property infringement, misappropriation, or other violations against us or our collaborators could be expensive and time-consuming and may prevent or delay the development and commercialization of any of our current or future product candidates.
  • We may become involved in lawsuits to protect or enforce our owned and in-licensed patents and other intellectual property rights, which could be expensive, time-consuming, and unsuccessful.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Intellectual property rights do not necessarily address all potential threats.
  • We may not be successful in obtaining or maintaining necessary rights to product components and processes for our development pipeline through acquisitions and in-licenses.
  • Risks Related to the Ownership of Our Common Stock
  • We may fail to satisfy the continued listing requirements of Nasdaq.
  • The trading price of the shares of our common stock is volatile, and purchasers of our common stock could incur substantial losses.
  • Our executive officers, directors, and principal stockholders, if they choose to act together, have the ability to significantly influence all matters submitted to stockholders for approval.
  • We do not currently intend to pay dividends on our common stock, so any returns on your investment will be limited to the value of our common stock.
  • Sales of a substantial number of shares of our common stock in the public market could cause our common stock price to fall.
  • We are an emerging growth company and a smaller reporting company, and the reduced disclosure requirements applicable to emerging growth companies and smaller reporting companies may make our common stock less attractive to investors.
  • Provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable and may lead to entrenchment of management.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders and that the federal district courts are the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
  • General Risk Factors
  • We incur significant increased costs as a result of operating as a public company, and our management is required to devote substantial time to compliance initiatives.

Legal proceedings

We are not subject to any material legal proceedings.

The opening of Item 3, Legal Proceedings.3

Sources

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    SEC EDGAROther events
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