Loading...
•
Jun 30, 2021
Biomea Fusion Q2 2021 Earnings Report
Reported financial results for the second quarter of 2021 and provided business highlights.
Key Takeaways
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.
Completed investigational new drug (“IND”) enabling studies for lead program, BMF-219.
Continued to advance ongoing preclinical studies of BMF-219 in a number of menin-dependent liquid and solid tumors.
Initiated pathway validation studies in type 2 diabetes.
Strengthened Board of Directors with appointment of Sumita Ray, J.D.
Forward Guidance
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements”.
Positive Outlook
- Potential safety, efficacy, and continued development of BMF-219
- Timing for completing the IND filing or starting the clinical development
- Building out our proprietary irreversible platform
- Progress made in early-stage small pipeline molecules through their preclinical development
- Timing for nominating development candidates in each program
Challenges Ahead
- Success, cost, and timing of the Company’s product candidate development activities and planned IND-enabling and clinical trials
- Company’s ability to execute on its strategy
- Regulatory developments in the United States
- Company’s ability to fund operations
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...