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Mar 31, 2023
Biomea Fusion Q1 2023 Earnings Report
Reported first quarter 2023 financial results and business highlights.
Key Takeaways
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.
Reported initial positive clinical data from first two cohorts of Phase II of ongoing Phase I/II study (COVALENT-111) of BMF-219 for patients with type 2 diabetes
Continued enrolling four liquid tumor cohorts in ongoing Phase I study of BMF-219 (COVALENT-101)
Continued enrolling patients with KRAS-mutated solid tumors in ongoing Phase I/Ib study of BMF-219 (COVALENT-102)
Advanced second product candidate, BMF-500, toward the clinic, with IND cleared to begin a Phase I study of BMF-500 (COVALENT-103)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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