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Jun 30, 2022
Biomea Fusion Q2 2022 Earnings Report
Second quarter 2022 financial results and business highlights reported.
Key Takeaways
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.
Continued to make significant progress advancing BMF-219 in multiple oncology indications.
Expanded clinical development strategy for BMF-219 to include type 2 diabetes.
Announced selection of second IND candidate, BMF-500, a potential best-in-class, oral, covalent inhibitor of FLT3.
Cash position of $150.2 million at the end of the second quarter of 2022.
Forward Guidance
The company is on track to submit IND for BMF-219 in solid tumors and type 2 diabetes in the second half of 2022 and continues IND-enabling studies for BMF-500.
Positive Outlook
- On track to submit IND for BMF-219 in solid tumors in the fourth quarter of 2022.
- On track to submit IND for BMF-219 in type 2 diabetes in the second half of 2022.
- Upcoming two oral presentations at the 2022 annual meeting of the European Association for the Study of Diabetes (EASD) in September.
- Advancing toward the clinic with second IND candidate, BMF-500, a covalent FLT3 inhibitor with best-in-class potential.
- BMF-219 exhibited robust anti-tumor effect in cell lines and PDX models in DLBCL and MM cell lines
Historical Earnings Impact
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