Biomea slumps as US FDA places hold on diabetes trial

Biomea Fusion

06/06/2024 21:33

** Shares of drug developer Biomea Fusion  BMEA.O  tumble
62% to $4.3 after the bell
    ** Company says U.S. FDA placed full clinical hold on its
ongoing early-to-mid stage study of experimental drug for type 1
and 2 diabetes 
    ** BMEA says will continue ongoing safety and efficacy data
collection during the hold
    ** FDA cited deficiencies based on the level of possible
drug-induced hepatotoxicity observed in the completed dose
escalation phase of study
    ** Stock down about 22% YTD
    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))