Metsera Inc., a biotechnology company developing an obesity drug called MET-097i, saw its shares surge 41.67% on its first day of trading on the Nasdaq Global Select Market.
The stock's stellar debut performance followed Metsera's successful pricing of its initial public offering on Thursday. The company sold 15.3 million shares at $18 apiece, raising $275 million in gross proceeds.
Metsera's strong first-day gains reflect robust investor demand for the newly public biotech firm. The IPO was priced above the estimated range of $15 to $17 per share, though the offering size was reduced from an earlier planned 17.19 million shares.
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