Weight-loss drug developer Metsera, backed by ARCH Venture Partners, revealed a wider loss in its paperwork for a U.S. initial public offering on Friday.
The terms of the IPO were not disclosed in the filing.
Strong equity markets, falling interest rates and hopes of a friendlier regulatory environment under the incoming Trump administration have given a push to companies looking to list their shares.
Metsera, founded in 2022 by venture capital firm ARCH Venture and investment firm Population Health Partners, revealed a net loss of $156.26 million in the first nine months of 2024, compared to a loss of $34.18 million in the same period in 2023.
The New York City-based biotech firm is developing injectable and oral drugs to treat obesity, based on the GLP-1 mechanism and other biological targets.
The company will use the proceeds from the IPO to advance into the next stage of clinical trials for its most advanced product candidate, MET-097i, an injectable. The remainder will be used for working capital and other general purposes.
The weight-loss drug market, which is estimated by analysts to reach at least $150 billion by the early 2030s, has boomed globally with several companies vying for a share of the pie.
This attractive market has also whetted investor appetite, with the strong reception of BioAge and MBX Biosciences last year.
In 2023, the World Health Organization decided not to add GLP-1 drugs to its essential medicines list, a catalog of the items that should be available in all functioning health systems.
However, another application has been lodged for the agency to reconsider their inclusion in the 2025 list update, a spokesperson told Reuters in December.
The company raised $290 million in funding last year, with participation from firms such as SoftBank and Mubadala Capital.
Metsera intends to list its shares on the Nasdaq Global Market under the ticker symbol "MTSR".
BofA Securities, Goldman Sachs, Evercore ISI, Guggenheim Securities and Cantor are the underwriters for the offering.
The U.S. Supreme Court agreed on Friday to decide the legality of a key component of the Affordable Care Act that effectively gives a task force established under the landmark healthcare law known as Obamacare the ability to require that insurers cover preventive medical care services at no cost to patients.
The justices took up an appeal by Democratic President Joe Biden's administration of a lower court's ruling that sided with a group of Christian businesses who objected to their employee health plans covering HIV-preventing medication and had argued that the task force's structure violated the U.S. Constitution.
Workers in U.S. chicken and pork plants face higher risks than other manufacturing workers for musculoskeletal disorders such as carpal tunnel syndrome, according to two studies the U.S. Department of Agriculture issued on Friday.
The findings highlight health concerns for employees who often perform repetitive tasks and use dangerous equipment, including sharp knives, to process meat for consumers. Those roles are disproportionately filled by immigrants and undocumented workers.
More than half of all U.S. meatpacking workers are immigrants, compared with about 17% of the entire workforce, according to the Center for Economic and Policy Research, a think tank.
A USDA-funded study of 1,047 poultry workers at 11 plants operating at faster processing speeds found that 81% of employees were at increased risk of musculoskeletal disorders. Researchers compared their risk for carpal tunnel syndrome to another study of 4,321 manufacturing workers.
Poultry workers who handled more chicken per minute faced higher risks than those who worked at a slower rate, though there was not an association with faster processing line speeds, the study found.
Meat companies are improving processes and equipment to reduce injuries, said the Meat Institute, an industry group that represents producers such as Tyson Foods and JBS USA.
"It is possible to maintain worker safety standards while operating at increased line speeds," the institute said.
In pork plants, 46% of 574 evaluated workers were at high risk for musculoskeletal disorders, and the effect of increased line speeds varied between establishments, according to another USDA-funded study.
Several workers expressed concerns about reporting pain to their supervisor due to the risk of retaliation or out of frustration that their problems would not be helped, the study said.
"Everyone works in pain and is afraid to speak out," one pork worker said, according to the study.
Dangers go beyond the musculoskeletal injuries detailed in USDA's reports, said Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union, which represents more than 15,000 poultry workers.
"Poultry workers toil in cramped, cold conditions, slicing up birds thousands of times per hour as chickens rush down the line," he said.
The Chinese foreign ministry said on Friday that it had maintained close communication with the World Health Organization (WHO) on respiratory diseases, when asked about the rising cases of the human metapneumovirus (HMPV) in China.
The Chinese government takes the health of its people and that of foreign nationals in China seriously, but the HMPV is not a new virus and has been circulating in humans for more than 60 years, Guo Jiakun, a foreign ministry spokesperson, said at a regular press conference.
In its latest report, China's Center For Disease Control and Prevention (CDC) said HMPV cases remained at high levels. That is in line with cases in other parts of the northern hemisphere.
"HMPV infections manifest itself as a self-limiting disease," Guo said. "It is alarmist to exaggerate common viruses as unknown viruses, which goes against scientific common sense."
On Tuesday, the WHO said it had been in contact with Chinese health officials and had not received any reports of unusual outbreak patterns.
The U.S. Department of Health and Human Services (HHS) on Friday declared a public health emergency for California to address the health impacts of the ongoing wildfires in Los Angeles County.
The wildfires have devastated Los Angeles neighborhoods on the east and west sides of the sprawling metropolis and have so far killed 10 people and destroyed nearly 10,000 structures, with those figures expected to grow.
The declaration gives the Centers for Medicare & Medicaid Services' (CMS) health care providers and suppliers greater flexibility in meeting emergency health needs of people enrolled under Medicare and Medicaid insurance plans, said the HHS.
HHS said its Administration for Strategic Preparedness and Response (ASPR) is prepared to deploy responders, along with medical equipment and supplies if requested by the state.
On Wednesday, President Joe Biden declared the fires a major disaster and said the U.S. government would reimburse 100% of the recovery for the next six months, and on Friday reiterated his pledge to provide California with the resources it needs to fight the blazes and rebuild.
Japanese Foreign Minister Takeshi Iwaya will travel to South Korea on Monday to shore up security cooperation between the East Asian neighbours and their mutual U.S. ally that is meant to counter China's growing regional power.
Iwaya, who will be the first Japanese foreign minister to visit Seoul in seven years, will meet with his South Korean counterpart Cho Tae-yul and Acting President Choi Sang-mok, the Japanese government said.
waya aims to "reconfirm" the importance of relations and that the two countries will continue to coordinate policies including those on North Korea in the "light of the current strategic environment," it said in a press release.
Deepening trilateral security cooperation could be more difficult amid the political turmoil in South Korea prompted by the impeachment of President Yoon Suk Yeol.
The transition to a second Trump administration on Jan. 20 also means that none of the original leaders who established the three-way security cooperation pact in 2023 - U.S. President Joe Biden, Yoon, and former Japanese Prime Minister Fumio Kishida—remain in power.
"The trilateral will move forward, the real question is will the trilateral thrive," The U.S. Ambassador to Japan Rahm Emanuel said at a press conference in Tokyo on Friday before he returns to the United States. It's going to take work to nurture it and develop it," he added.
South Korean President Yoon Suk Yeol has been holed up in his hillside villa in Seoul since parliament voted to impeach and suspend him last month over his short-lived martial law decree on Dec. 3.
Presidential security service and military guards there have blocked investigators from arresting him.
Iwaya's planned visit comes after the South Korean foreign minister met last week with outgoing U.S. Secretary of State Antony Blinken, who expressed "serious concerns" over some of the actions Yoon took over the course of his martial law declaration. Iwaya met Blinken in Tokyo the following day.
Iwaya will travel to the Philippines after South Korea to discuss security and economic cooperation and will visit Palau to attend the second inauguration of President Surangel Whipp before returning to Japan.
Greenland Prime Minister,Múte Egede, said on Friday that he has not spoken with Donald Trump regarding the President-elect's recent interest in buying the Danish-controlled territory, but that he's 'ready to talk,' as the 'status quo is no longer an option.'
Speaking next to Danish PM Mette Frederiksen at a joint press conference, Egede emphasized the need for investment in resource development as well as diversified industries in order to reduce dependence on Danish subsidies. That said, Egede also said that "Greenland is for the Greenlanders. We don’t want to be Danes. We don’t want to be Americans. We obviously want to be Greenlanders."
Frederiksen, meanwhile, says she has asked to speak with Trump.
"We have suggested a conversation [with Trump] and I expect it will take place," she told reporters Thursday night after meeting with other senior Danish officials about the situation - adding that she doesn't expect any dialogue until after Trump's Jan. 20 inauguration.
Her comments came just 48 hours after Trump declined to rule out military or economic force to gain control of Greenland, however Frederiksen says there is "no reason to believe" that Trump plans to invade Greenland.
Meanwhile, earlier in the week Danish defense minister Troels Lund Poulson admitted that Denmark had "neglected for many years to make the necessary investments in ships and in aircraft that will help monitor our kingdom, and that is what we are now trying to do something about."
Greenland to Play All Sides
Trump’s fixation on Greenland has catapulted the world’s largest island into a position of unexpected influence. What once seemed like a farcical bid in 2019 has found new relevance amid Greenland’s growing push for independence from Denmark. As the territory approaches a pivotal general election, its leaders find themselves navigating a rare moment of leverage - one that pits powerful nations against each other, Bloomberg reports.
According to a statement from the Greenlandic government, they are "open to increased and constructive cooperation with our closest neighbors," adding "Greenland looks forward to discussing the possibilities for business cooperation, the development of Greenland’s mineral sector, including critical minerals and other relevant areas with the US."
The stakes could not be higher. Greenland’s geopolitical significance has surged alongside the melting of its vast ice sheet, transforming the island into a key player in global security and resource extraction. Beyond its role as host to an American military base critical to missile detection and space surveillance, Greenland’s untapped reserves of gold, diamonds, uranium, and rare earth minerals have made it a coveted prize in the competition for dominance over strategic minerals.
According to sources familiar with the matter, Trump’s transition team began consulting private sector experts as early as November on potential ventures in Greenland. Among the ideas floated are rare earth mining projects and a new hydroelectric facility - a nod to the island’s renewable energy potential. These previously undisclosed conversations underscore Washington’s escalating interest in the Arctic as a buffer against Chinese influence.
"Trump is absolutely capitalizing on Greenland’s push for independence," said Jacob Kaarsbo, independent foreign security adviser and former chief analyst at the Danish Defence Intelligence Service. "I can easily see a scenario where Greenland moves away from Denmark after the upcoming elections."
As we noted on Thursday, Blackwater founder Erik Prince said in a recent interview that Trump's 1st administration was closer than anyone knew to securing a groundbreaking agreement with Denmark to take control of Greenland.
"I think what Trump had proposed last time, last administration, was effectively a 50-50 rev share where the US would take over the overhead costs because it costs Denmark tens of billions of dollars a year for the policing, security, and administration of Greenland," said Prince, adding "The US would take that on, but then it would basically split the revenue of any mining or energy development together with Denmark. I think it's a good deal for Denmark and a good deal for the United States."
For Greenland, the attention - though controversial - is fortuitous. The island’s independence movement, long fueled by resentment over Denmark’s colonial past, has gained momentum. Revelations in 2022 about Danish doctors coercing Greenlandic teenagers into birth control programs during the 1960s and 1970s further deepened grievances. Today, many Greenlanders point to ongoing disparities, including reports of racial discrimination by Danes, as evidence of a need for self-determination.
A Turning Point in Greenland-Denmark Relations
Under the current governance framework established in 2009, Greenland has autonomy over domestic affairs such as health care and education, while Denmark retains control over foreign policy and defense. PM Egede, seeking reelection, has made the case for shedding "the shackles of the colonial era," calling for a future where Greenland determines its own destiny.
However, economic dependency remains Greenland’s Achilles’ heel. Denmark’s annual subsidy of $600 million underpins key services - from health care to education - in a nation whose total GDP hovers around $2.4 billion. Without this financial lifeline, independence could become unsustainable unless new partnerships fill the gap.
Enter the United States. “If you want to have control over Greenland or have them closer to the US, it must be done by offering them more money than they currently get from Denmark in subsidies,” said Peter Viggo Jakobsen, a professor at the Center for War Studies at the University of Southern Denmark. "If Trump can offer the Greenlandic people a better deal, I can easily imagine that a majority of the population will declare independence."
Rare Earths and National Security
One promising path for economic diversification lies in Greenland’s vast troves of rare earth elements - crucial for electronic devices, defense systems, and green energy technologies. As the U.S. seeks to curb its reliance on China for these minerals, Greenland’s untapped resources present an opportunity for a strategic partnership.
Meanwhile, Denmark has responded to the shifting dynamics with unprecedented investments in Arctic infrastructure. Shortly after Donald Trump Jr.’s surprise five-hour visit to Nuuk last week, Copenhagen pledged funding for a new hydropower project. The Danish government also rolled out defense upgrades aimed at reinforcing its Arctic presence, signaling a renewed commitment to Greenland’s development.
Symbolism has also played a role. Denmark recently updated its royal coat of arms to feature Greenland prominently and introduced Greenlandic interpreters in parliamentary sessions—moves designed to foster goodwill amid rising tensions.
Free Association?
Should Greenland opt for independence, one potential model is free association - a status where the island could function as a sovereign state while maintaining economic ties with a partner nation, as seen in agreements between the U.S. and the Marshall Islands. This arrangement would grant Greenland control over its natural resources while ensuring continued financial support for public services.
Yet the road to independence is fraught with challenges. Any secession would require protracted negotiations between Copenhagen and Nuuk, culminating in a binding referendum. Both the Danish and Greenlandic parliaments would need to ratify the terms
