Pfizer Reports Positive Weight-Loss Trial Results, Strong Q4 – So Why Is PFE Stock Falling?

• Pfizer reported positive Phase 2b topline results for its GLP-1 candidate in adults with obesity or overweight without type 2 diabetes.
• The company plans to launch more than 20 trials in 2026, including 10 Phase 3 studies of PF’3944.
• For the fourth-quarter (Q4), Pfizer posted a revenue of $17.6 billion, beating Wall Street estimates of $16.8 billion, according to Fiscal.ai data.

Pfizer Inc. (PFE) stock was in the spotlight on Tuesday after the company reported positive updates from a study testing weight loss treatment and a better-than expected fourth quarter print.

However, PFE shares were down 2% in pre-market trading on Tuesday as investors appeared to remain cautious about growth risks and the long road ahead for its GLP-1 pipeline. 

Positive Topline Results For Weight Loss Treatment 

Pfizer reported positive topline results from its Phase 2b VESPER-3 study evaluating PF’3944, an ultra-long-acting injectable GLP-1 receptor agonist, in adults with obesity or overweight without type 2 diabetes.

The trial aimed to determine whether patients could maintain weight loss while switching from weekly to once-monthly injections and whether the treatment would retain a favorable safety profile.

The study met its primary endpoint, delivering statistically significant weight reduction across all tested doses. Participants achieved up to 12.3% mean placebo-adjusted weight loss at week 28. PF’3944 was generally well tolerated, with mostly mild to moderate gastrointestinal side effects and limited treatment discontinuations. The safety profile remained consistent with the broader GLP-1 drug class.

“Based on the monthly dosing efficacy and tolerability demonstrated in this trial, we remain confident in our plan to include a higher 9.6 mg monthly maintenance dose of PF’3944 in Phase 3,” said Jim List, Chief Internal Medicine Officer.

Following its acquisition of Metsera and a global licensing deal with YaoPharma, Pfizer said it is accelerating its obesity treatment pipeline. The company plans to launch more than 20 trials in 2026, including 10 Phase 3 studies of PF’3944.

Q4 Earnings Snapshot

Pfizer reaffirmed its full-year 2026 revenue guidance of $59.5 billion to $62.5 billion and adjusted diluted earnings between $2.80 and $3 per share. The company said the outlook includes roughly $5 billion in expected COVID-19 product sales and a projected $1.5 billion year-over-year revenue hit from certain products losing exclusivity.

The company posted a 2% decline in FY2025 revenue at $62.6 billion with adjusted earnings of $3.22 per share.

For the fourth-quarter (Q4), Pfizer posted a revenue of $17.6 billion, beating Wall Street estimates of $16.8 billion, according to Fiscal.ai data. It also posted a better-than-expected EPS of $0.66.

What Did Stocktwits Users Say?

Retail sentiment on Stocktwits remained in the ‘bullish’ territory over the past 24 hours, amid ‘high’ message volumes. PFE was among the top trending tickers on the platform.

One user expects multiple upcoming catalysts this year for the stock.

Another user highlighted key support and resistance levels.

The stock has gained around 1.5% over the past year.

Read also: SOFI Stock Hovers Around 200-DMA — A Make-or-Break Test Looms

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