Despite a decline in the equity market, the stock of obesity medication manufacturer Metsera Inc. surged 47% on Friday, making it the largest gainer among three IPOs.
Metsera’s stock (MTSR) was trading at $26.50 at the closing bell, far higher than its $18 IPO pricing level. At $25.50, it debuted on the Nasdaq.
At $21.07 at the end of its first trading day, Infinity Natural Resources (INR) had gained 5.4% above its offering price of $20 per share. On the New York Stock Exchange, the stock opened at $22.16.
Beta Bionics (BBNX), a manufacturer of medical devices, saw a 40% increase in value from its initial public offering (IPO) price of $17 per share to close at $23.81. The initial price of the shares was $23.50.
The Trump administration said it would take action on Saturday to put tariffs on Canada, China, and Mexico, which caused the Nasdaq to drop 0.3% and the S&P 500 SPX to drop 0.5% in the broad equities market.
Of the Friday debutantes, Metsera’s IPO is the most lucrative.
New York-based Metsera set the highest IPO pricing for Friday’s secondary-market debuts in terms of cash proceeds, pricing 15.28 million shares at $18 each to raise $275 million.
Priced above its expected range of $15 to $17, the business, which is developing an obesity medicine under the name MET-097i, decreased the size of the offering from its previous level of 17.19 million shares.
The company’s monthly injectable “ultra-long-acting” medication, MET-097i, is used to treat overweight and obesity.
Participants who are overweight or obese but otherwise healthy are presently enrolled in a Phase 1/2 clinical investigation in the United States.
Arch Venture Partners and Validae Health L.P., the company’s principal shareholders, both sold shares during the first public offering.
The $265 million Infinity Natural Resources IPO tips the scales.
Strong stock-market demand for the Ohio and Pennsylvania-based oil and gas producer is indicated by Infinity Natural Resources pricing its offering above the middle of its range.
President Donald Trump, who reiterated the “drill, baby, drill” phrase in his inaugural address on January 20, is pushing for deregulatory changes in the oil industry, which coincides with the IPO.
The newly sworn-in transportation secretary of the United States, Sean Duffy, earlier this week ordered a study of the fuel-economy requirements established by the Democratic Joe Biden administration.
Infinity Natural Resources raised $265 million by pricing 13.25 million shares at $20. The initial public offering (IPO) was priced at the higher end of the $18–$21 range.
Of the few initial public offerings (IPOs) on Friday, Infinity Natural Resources was the biggest.
Infinity Natural Resources, headquartered in Morgantown, West Virginia, focuses on producing natural gas and oil in the Marcellus Shale in Pennsylvania and the Utica Shale in Ohio and Pennsylvania.
After reporting net income of $26.4 million and revenue of $90 million in the same time last year, the company reported net income of $54.8 million and revenue of $190 million in the nine months that ended on September 30.
NGP and Pearl Energy Investments are the main shareholders of Infinity Natural Resources.
Based on the $20 per share offering price, Infinity Natural Resources has a market capitalization of $1.18 billion, with 13.25 million Class A shares and 45.64 million Class B shares still outstanding in the IPO.
Beta Bionics, a developer of medical devices, increases the size of its IPO to satisfy demand.
In order to raise $207 million for the IPO, Beta Bionics priced 12 million shares at the top of an expanded projected pricing range of $16 to $17 per share. Strong demand for the IPO and the potential profits after it began trading were both indicated by the price level.
The iLet Bionic Pancreas pump, manufactured by Irvine, California-based Beta Bionics, is the first FDA-approved device to use “adaptive closed-loop algorithms” to modify insulin dosages.
As interest in the offering grew before the trading debut, the business expanded the price range from its previous level of $14 to $16 per share and added 2 million shares to the IPO.
Compared to a full-year 2023 net loss of $44.1 million and revenue of $12 million, Beta Bionics reported a full-year 2024 net loss of $55.3 million on sales of $65.77 million.
Maze Therapeutics Inc. (MAZE) raised $140 million by pricing 8.75 million shares at $16 each. The stock’s price was in the middle of its $15–$17 range. The offering’s proceeds are meant to help the business develop medications for cardiovascular, renal, and other metabolic disorders, such as obesity.
The stock ended the first trading day at $15.95.