Biomea Fusion reports Q4 2023 net loss $34.9M; cash $177.2M; clinical data readouts expected 2024

Biomea Fusion, Inc.

2024-Q1 EPS reported -$1.09

Net loss $117.3M for FY 2023 vs $81.8M in 2022; Q4 loss $34.9M vs $25.3M.
Cash, equivalents, restricted cash, investments $177.2M at Dec 31, 2023, up from $113.4M year earlier.
R&D expenses $102.5M for FY 2023, up from $62.7M, driven by BMF-219 and BMF-500 clinical costs.
Phase 2 type 2 diabetes data showed continued glycemic control 5 months off therapy; expansion cohort of 216 patients underway.
Phase 2 type 1 diabetes study (COVALENT-112) initiated; initial data readout anticipated in 2024.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Biomea Fusion, Inc. reported financial results for fourth quarter and full year 2023.

Period: fourth quarter and full year 2023
Result: reported results

Exact text from the filing

Biomea Fusion Reports Fourth Quarter and Full Year 2023 Financial Results and Corporate Highlights

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Biomea Fusion, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-039304

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