Biomea Fusion Earnings Reports

Biomea Fusion reported a net loss of $32.8 million for the third quarter of 2024. The FDA lifted the clinical hold on the company's diabetes studies, and they are on track to announce a third clinical candidate, BMF-650, for diabetes and obesity.

Biomea Fusion reported a net loss of $37.3 million for the second quarter of 2024. The company is focused on resolving the clinical hold for BMF-219 in diabetes and advancing its BMF-500 program. Topline readouts for COVALENT-111 and COVALENT-112 are expected in Q4 2024.

Biomea Fusion reported a net loss of $39.1 million for the first quarter of 2024, with cash, cash equivalents, and restricted cash totaling $145.3 million. The company highlighted positive data from its Phase 1/2 study in type 2 diabetes and initial clinical data from its Phase 2 study in type 1 diabetes, and anticipates a reduction in operating expenses in the second half of the year.

Biomea Fusion reported a net loss of $34.9 million for Q4 2023 and ended the quarter with $177.2 million in cash, cash equivalents, and restricted cash. The company highlighted positive data from its Phase 2 trial in type 2 diabetes and the initiation of a Phase 2 study in type 1 diabetes.

Biomea Fusion reported a net loss of $28.4 million for the third quarter of 2023. They had a cash position of $199.5 million at the end of the third quarter. Clinical trials for BMF-219 in type 1 and type 2 diabetes are progressing, and the first patient was dosed with BMF-500 in a Phase I clinical trial.

Biomea Fusion reported second quarter results with a cash position of $223.3 million. The company highlighted positive clinical data from its BMF-219 program in type 2 diabetes and initial responses in relapsed/refractory AML from its COVALENT-101 trial.

Biomea Fusion reported a net loss attributable to common stockholders of $29.1 million for the three months ended March 31, 2023. The company's cash, cash equivalents, restricted cash, and investments totaled $86.7 million as of March 31, 2023.

Biomea Fusion reported a net loss attributable to common stockholders of $25.3 million for the three months ended December 31, 2022. As of December 31, 2022, the Company had cash, cash equivalents, restricted cash, and investments of $113.4 million.

Biomea Fusion reported a net loss of $22.9 million for the third quarter of 2022, with a cash position of $133.8 million. The company continued to advance its pipeline, including BMF-219 and BMF-500, and expects to provide an update on its third development candidate in the first half of 2023.

Biomea Fusion reported its second quarter 2022 financial results, highlighting progress in advancing BMF-219 in oncology and type 2 diabetes, selection of BMF-500 as a second IND candidate, and a cash position of $150.2 million.

Biomea Fusion reported a net loss of $16.4 million for the quarter ended March 31, 2022, and had cash, cash equivalents, restricted cash, and investments of $165.6 million as of March 31, 2022.

Biomea Fusion reported a net loss attributable to common stockholders of $41.6 million for the year ended December 31, 2021, compared to a net loss of $5.3 million for the same period in 2020. As of December 31, 2021, the Company had cash, cash equivalents, restricted cash, and investments of $175.7 million.

Biomea Fusion reported a net loss attributable to common stockholders of $12.61 million for the third quarter of 2021. The company's cash, cash equivalents, restricted cash, and investments were $191.9 million as of September 30, 2021. The company also announced FDA clearance of Investigational New Drug Application (IND) for BMF-219.

Biomea Fusion reported a net loss attributable to common stockholders of $8.399 million for the second quarter of 2021. The company completed IND-enabling studies for BMF-219 and is on track to complete IND submission for Phase I/II study of BMF-219.

Biomea Fusion reported a net loss attributable to common stockholders of $5.9 million for the first quarter of 2021, compared to a net loss of $0.4 million for the same period in 2020. As of March 31, 2021, the Company had cash, cash equivalents, restricted cash, and investments of $57.5 million.