Pfizer reported Phase 2 results for PF‑3944, the monthly GLP‑1 acquired via its $10B Metsera buyout, showing mean placebo‑adjusted weight loss up to ~12.3% at 28 weeks in some cohorts. The company signaled plans to advance a higher dose into a broad Phase 3 program of roughly 10 pivotal studies and said the Phase 2 readout increased confidence in the asset. Investors reacted with modest selling, reflecting cross‑trial comparison questions and the competitive bar set by Lilly and Novo Nordisk.