Biomea Fusion Q2 net loss narrows to $20.7 mln

Biomea Fusion

05/08/2025 22:21

Overview

Biomea Fusion Q2 net loss narrows to $20.7 mln from $37.3 mln in 2024

Company raised $42.8 mln in public offering, extending cash runway into H2 2026

Reduced workforce and expenses to support core diabetes and obesity programs

Outlook

Biomea plans IND submission for BMF-650 in H2 2025

Company anticipates Phase I study of BMF-650 by late 2025

Biomea expects 52-week data from Phase II COVALENT-111 in H2 2025

Result Drivers

ICOVAMENIB RESULTS - Demonstrated durable HbA1c reduction and improved beta-cell function in T2D patients

COST REDUCTION - Reduced workforce and quarterly expenses to support ongoing core programs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
-$20.74 mln
Q2 Basic EPS
-$0.51


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Biomea Fusion Inc is $9.00, about 82.1% above its August 4 closing price of $1.61

Press Release: ID:nGNX2mVCyd

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)