10 Stocks with Outstanding Gains; 9 on Record Highs

5. Metsera Inc. (NASDAQ:MTSR)

Metsera rallied to a fresh all-time high on Thursday, as investor optimism was bolstered by a billion-dollar bidding war between pharmaceutical giants Pfizer Inc. and Novo Nordisk.

In intra-day trading, Metsera Inc. (NASDAQ:MTSR) jumped to a new 52-week high of $66.10 before trimming gains to end the day just up by 22.06 percent at $63.73 apiece.

This followed confirmation from Novo Nordisk that it submitted an $8.5 billion offer to acquire Metsera Inc. (NASDAQ:MTSR), 16 percent higher than Pfizer’s $7.3 billion offer, despite the latter already securing Metsera’s approval for the merger last month.

Meanwhile, Pfizer said that it was preparing to sue Metsera Inc. (NASDAQ:MTSR) and Novo Nordisk for breaching the agreement.

“It is an attempt by a company with a dominant market position to suppress competition in violation of law by taking over an emerging American challenger. It is also structured in a way to circumvent antitrust laws and carries substantial regulatory and executional risk,” Pfizer said.

“The proposal is illusory and cannot qualify as a superior proposal under Pfizer’s agreement with Metsera, and Pfizer is prepared to pursue all legal avenues to enforce its rights under its agreement,” it noted.

It can be learned that Pfizer earlier this year discontinued the clinical trial for its potential weight loss treatment, danuglipron, due to a case of potential drug-induced liver failure.

Last month, it announced plans to acquire Metsera, a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and cardiometabolic diseases, as it races to establish a foothold in the booming weight-loss drug market.