Biomea Fusion reports Q1 net loss $29.1M, cash $86.7M plus $172.5M offering; positive Phase II diabetes data

Biomea Fusion, Inc.

2023-Q1 EPS reported -$0.98

Net loss $29.1M vs $16.4M in Q1 2022; R&D expense $24.4M (up from $11.4M).
Cash $86.7M at Mar 31, 2023; plus $172.5M gross from April offering to ≈$259M total.
COVALENT-111 Phase II Cohort 3 (100 mg): 89% of patients had HbA1c reduction, 56% had ≥1% reduction.
IND cleared for BMF-500; Phase I COVALENT-103 for FLT3-mutant acute leukemias to start enrolling.
Initial AML/ALL data from COVALENT-101 expected in Q2 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Biomea Fusion, Inc. reported financial results for the quarter ended March 31, 2023.

Period: the quarter ended March 31, 2023
Result: reported results

Exact text from the filing

On May 2, 2023, Biomea Fusion, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2023.

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Biomea Fusion, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-016684

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