Biomea doses first patient in early-stage blood cancer study; shares rise

Biomea Fusion

17/10/2023 16:23

** Shares of Biomea Fusion  BMEA.O  rise ~6.4% to $11.40
    ** Co says first patient has been dosed in its early-stage
trial for the treatment of a type of blood cancer called acute
myeloid leukemia (AML)
    ** Says the drug BMF-500 was designed to inhibit a type of
mutation called FLT3 in people with AML
    ** Brokerage H.C Wainwright says current treatment options
have not achieved durable responses in majority of patients with
FLT3 mutated AML, leaving a viable path forward for BMEA's
BMF-500 as a therapeutic candidate
    ** Wainwright adds that BMF-500 is backed by robust
preclinical data 
    ** Including session moves, shares up ~32.9% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))