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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.
Biomea Fusion
Biomea Fusion
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
- Impact that the current COVID-19 pandemic will have on the Company’s clinical trials and pre-clinical studies, supply chain, and operations