Biomea Fusion reports FY2022 net loss of $81.8M; cash $113.4M; clinical progress across three trials

Biomea Fusion, Inc.

Net loss $25.3M in Q4 2022 ($14.7M in Q4 2021); full-year loss $81.8M vs $41.6M in 2021.
Cash, equivalents, and investments $113.4M at Dec 31, 2022, down from $175.7M a year earlier.
R&D expense $62.7M in FY2022 vs $28.0M; increase driven by clinical/preclinical development of BMF-219 and BMF-500.
BMF-219 advanced in three trials: COVALENT-101 (liquid tumors), COVALENT-102 (KRAS-mutant solid tumors), COVALENT-111 (type 2 diabetes); initial diabetes data reported March 2023.
IND for BMF-500 (FLT3 inhibitor) on track for H1 2023; third development candidate from FUSION platform expected H1 2023.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Biomea Fusion, Inc. reported financial results for the quarter ended and year ended December 31, 2022.

Period: the quarter ended and year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 28, 2023, Biomea Fusion, Inc. issued a press release announcing its financial results for the quarter ended and year ended December 31, 2022.

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Source: SEC EDGAR

accession 0000950170-23-010286

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