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Sep 30, 2021
Biomea Fusion Q3 2021 Earnings Report
Reported financial results for the third quarter of 2021.
Key Takeaways
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.
Received FDA clearance of IND for BMF-219, an irreversible menin inhibitor for the treatment of relapsed or refractory acute leukemias.
Initiating a Phase I study for the treatment of relapsed or refractory acute leukemia.
Conducting preclinical studies to demonstrate the potential for BMF-219 in genetically defined patient subsets of DLBCL and MM.
Opened Biomea Innovation Research Center to generate a broad portfolio of next generation covalent inhibitors.
Forward Guidance
Biomea Fusion expects its cash balance to sustain operations well into 2024 and anticipates announcing the next pipeline candidate in the first half of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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