Replies to post #256901 on Biotech Values

[DewDiligence]

More detailed Metsera phase-2b data_is_in_slides 12-18 from PFE’s 4Q25 CC:

https://s206.q4cdn.com/795948973/files/doc_financials/2025/q4/Q4-2025-Earnings-Charts.pdf

[DewDiligence]

Re: PFE ‘3944 for obesity

PFE didn’t disclose the raw (not placebo-adjusted) weight loss in the phase-2b trial of ‘3944, leading some people to infer that the placebo arm experienced modest weight gain. The CSO said on PFE’s CC that the placebo arm was “stable, not really up or down,” but this is consistent (IMO) with a placebo-arm gain of, say, 2%, which would make the placebo-adjusted weight-loss numbers somewhat less impressive.

We’ll know the details at ADA in June.

[DewDiligence]

PFE licenses China-only commercial rights_to (another) GLP-1 agonist:

https://www.reuters.com/business/healthcare-pharmaceuticals/pfizer-diabetes-drug-deal-with-sciwind-biosciences-2026-02-24/

https://www.sciwindbio.com/portal/index/newsdetail/id/123/category_id/5.html