Biomea Fusion Q4 2021 Earnings Report
Key Takeaways
Biomea Fusion reported a net loss attributable to common stockholders of $41.6 million for the year ended December 31, 2021, compared to a net loss of $5.3 million for the same period in 2020. As of December 31, 2021, the Company had cash, cash equivalents, restricted cash, and investments of $175.7 million.
Phase I trial of BMF-219, an irreversible covalent menin inhibitor, is currently underway.
Plan to initiate trials of BMF-219 in up to seven solid and liquid tumor types and diabetes.
Plan to announce second clinical candidate in the first half of 2022.
Cash, cash equivalents, restricted cash, and investments of $175.7 million.
Biomea Fusion
Biomea Fusion
Forward Guidance
Expected Milestones in 2022 include initiating enrollment of patients with MM and DLBCL in Phase I clinical trial of BMF-219, announcing further preclinical data for BMF-219 in liquid and solid tumors, announcing preclinical validation for BMF-219 in diabetes, announcing second irreversible covalent inhibitor pipeline candidate in the first half of 2022, submission of an IND for BMF-219 in diabetes in the second half of 2022, and submission of an IND for BMF-219 in KRAS-mutant solid tumors, including patients with non-small cell lung cancer (NSCLC), pancreatic cancer, and colorectal cancer (CRC) in the fourth quarter of 2022.
Positive Outlook
- Initiate enrollment of patients with MM and DLBCL in Phase I clinical trial of BMF-219.
- Announce further preclinical data for BMF-219 in liquid and solid tumors.
- Announce preclinical validation for BMF-219 in diabetes.
- Announce second irreversible covalent inhibitor pipeline candidate in the first half of 2022.
- Submission of an IND for BMF-219 in diabetes in the second half of 2022.
Challenges Ahead
- Risk of delays in patient enrollment
- Risk in the initiation of planned clinical trials
- Risk in the conduct of planned clinical trials
- Risk in the completion of our planned clinical trials