Pfizer released Phase II data for PF‑08653944 (formerly Metsera’s candidate) showing placebo‑adjusted weight loss up to ~12.3% at 28 weeks and up to 10.5% in an alternative analysis — outcomes the company says validate a once‑monthly maintenance dosing strategy. Pfizer plans an extensive Phase III program and has announced higher dose testing in the pivotal studies. The readout comes after Pfizer’s $10 billion acquisition of Metsera and follows a series of high‑stakes bets by big pharma to secure long‑acting GLP‑1 franchises. Company executives framed the data as supportive of monthly dosing convenience, while analysts compared efficacy to Lilly and Novo Nordisk benchmarks and flagged dose escalation as essential for competitive positioning. Investors reacted with a mixed tone: the results de‑risk the asset but invite questions about differentiation versus existing weekly and daily GLP‑1 regimens. Pfizer’s next steps — higher dosing in Phase III and broader development planning — will determine whether the asset can become a commercial foothold in obesity care.