Pfizer released midstage data for PF‑08653944, the once‑monthly GLP‑1 acquired in its $10B Metsera deal, reporting placebo‑adjusted weight loss up to ~12.3% in one cohort and up to ~10.5% at six months in another analysis. The company plans a higher‑dose Phase 3 program informed by these Phase 2 results and will test a doubled maintenance dose in pivotal studies. Investors reacted cautiously despite efficacy signals, reflecting cross‑trial comparisons with Lilly and ongoing dosing optimization ahead of large Phase 3 commitments.