Metsera Inc. (NASDAQ: MTSR) saw its stock price plummet 9.22% in Thursday's trading session following the release of its third-quarter earnings report. The significant drop came as the company's financial results fell short of analyst expectations, raising concerns about its current performance and future outlook.

The biotechnology firm reported a quarterly loss of $1.11 per share, missing the analyst consensus estimate of a $0.69 loss by a substantial 60.87%. This disappointing figure suggests that Metsera is facing more significant challenges than previously anticipated, potentially impacting investor confidence in the company's near-term prospects.

Despite the negative market reaction, it's worth noting that Metsera's loss per share has narrowed considerably compared to the same period last year. The company reported a loss of $7.56 per share in the corresponding quarter of the previous year, indicating an 85.32% improvement year-over-year. However, the market's focus on the earnings miss overshadowed this long-term progress, leading to the sharp decline in stock price.