Biomea Fusion, Inc. - BMEA STOCK NEWS

Biomea Fusion (Nasdaq: BMEA) has announced a conference call and webcast scheduled for Wednesday, October 30th at 4:30 pm ET. The event will focus on two key announcements:

1. Introduction of BMF-650, their lead clinical candidate, described as a next-generation, potent, selective, oral small-molecule GLP-1 receptor agonist (GLP-1 RA).

2. Presentation of preclinical study results examining the synergistic benefits of combining BMF-219 with a GLP-1 RA-based therapy.

The webcast will be accessible to registered attendees through Biomea's investor website. A replay will be available after the event.

Biomea Fusion (Nasdaq: BMEA) will present at the 1st Asian Conference on Innovative Therapies for Diabetes Management (ATTD-ASIA 2024) in Singapore, November 18-20, 2024. The company will showcase data from its COVALENT-111 and COVALENT-112 diabetes clinical trials in three presentations.

The presentations will focus on:

• A Phase 2 trial of oral menin inhibitor BMF-219 in Type 2 Diabetes patients (COVALENT-111)
• Case studies of BMF-219 in poorly controlled severe insulin-deficient Type 2 Diabetes
• A Phase 2 trial of BMF-219 in Type 1 Diabetes patients (COVALENT-112)

BMF-219 is an investigational oral covalent menin inhibitor developed to regenerate insulin-producing beta cells. Dr. Juan P. Frias will deliver all three presentations, scheduled for November 19-20, 2024.

Biomea Fusion, Inc. (Nasdaq: BMEA) has announced the formation of a Global Scientific Advisory Board (SAB) comprising 22 world-renowned diabetes experts from 11 countries. The SAB will collaborate with Biomea's leadership to advance menin science and beta cell biology, focusing on the development of BMF-219, an investigational covalent menin inhibitor designed to regenerate insulin-producing beta cells.

The SAB, chaired by Dr. Rohit N. Kulkarni, includes prominent figures in diabetes research and therapeutics. They will provide strategic guidance for BMF-219's clinical development and explore its potential as both a monotherapy and in combination with standard care agents. The board's expertise spans various aspects of diabetes management, including beta cell science, clinical trial design, and global diabetes care practices.

This initiative aims to leverage the SAB's collective knowledge to optimize Biomea's clinical development and commercialization strategies for BMF-219, potentially revolutionizing diabetes treatment by addressing beta cell dysfunction, a root cause of the disease.

Biomea Fusion, Inc. (Nasdaq: BMEA) announced that the FDA has lifted the clinical hold on its ongoing Phase I/II clinical trials of BMF-219, an investigational covalent menin inhibitor, for type 2 and type 1 diabetes (COVALENT-111 and COVALENT-112). The company's CEO, Thomas Butler, expressed confidence in BMF-219 as a novel, first-in-class agent for diabetes treatment, noting that safety concerns from the Phase 2a Escalation Study did not persist in the larger Expansion Study.

Biomea plans to continue its development of BMF-219 and will host a webcast investor update. The company also outlined key diabetes milestones for Q4 2024, including:

• Announcing a third development candidate: a potent, selective, oral small molecule GLP-1 receptor agonist
• Topline Week 26 data readout of Phase 2b COVALENT-111 with approximately 200 patients
• Topline data readout of Phase 2a COVALENT-112 with approximately 20 patients

Biomea Fusion (Nasdaq: BMEA), a clinical stage biopharmaceutical company targeting metabolic diseases and genetically defined cancers, announced a grant of non-qualified stock options to a new employee. This grant, approved by the compensation committee on August 1, 2024, allows the purchase of 7,500 shares of Biomea's common stock. The stock options will vest quarterly over four years, contingent upon the employee's continued employment. These options were awarded under the Biomea 2023 Inducement Equity Plan, adhering to Nasdaq Listing Rule 5635(c)(4), and were a material inducement for the employee's hiring.

Biomea Fusion (BMEA) released its second quarter 2024 financial results and corporate highlights. The company reported a net loss of $37.3 million for Q2 2024 compared to $24.9 million in Q2 2023. The rise in losses is attributed to increased R&D expenses, which were $31.8 million, up from $21.9 million in Q2 2023, and higher G&A expenses. As of June 30, 2024, the company had cash and equivalents of $113.7 million.

Key milestones include the upcoming readout of COVALENT-111 Phase 2b and COVALENT-112 Phase 2a trials in Q4 2024. Biomea also aims to announce a third program in obesity in Q3 2024. The company is addressing an FDA clinical hold on BMF-219 for diabetes due to potential hepatotoxicity. Initial BMF-219 data for type 1 diabetes shows promising beta-cell function improvements.

Biomea Fusion has announced that the FDA has placed a full clinical hold on its Phase I/II clinical trials (COVALENT-111 and COVALENT-112) for BMF-219, a covalent menin inhibitor for type 1 and type 2 diabetes. The hold is due to potential drug-induced hepatotoxicity observed in the Dose Escalation Phase of COVALENT-111. While adverse events have generally been mild to moderate with no serious adverse reactions reported, the company is working closely with the FDA to address safety concerns and resume trials. Despite the hold, Biomea remains committed to advancing BMF-219's development.

Biomea Fusion, a clinical-stage biopharmaceutical firm, disclosed on June 3, 2024, that its board's compensation committee granted non-qualified stock options for 25,000 shares to a new employee on June 1, 2024. These shares will vest quarterly over four years, contingent on continued employment. The grant is part of Biomea's 2023 Inducement Equity Plan, aimed at attracting new talent, and adheres to Nasdaq Listing Rule 5635(c)(4). The plan was adopted on November 17, 2023.

Biomea Fusion has completed enrollment of the first three dose expansion arms in its Phase II COVALENT-111 study for BMF-219, aimed at treating type 2 diabetes. Over 260 patients have been enrolled in this multi-site, randomized, double-blind, placebo-controlled trial. BMF-219 is an investigational covalent menin inhibitor designed to regenerate insulin-producing beta cells. Preliminary results from dose escalation indicate effective glycemic control even after treatment discontinuation. The study will now focus on 8- and 12-week dosing regimens, with results expected in Q4 2024.