Earnings ·
Biomea Fusion reports Q3 net loss of $6.2M and cash balance of $26.8M
BMEABiomea Fusion, Inc.
Biomea Fusion reported a third-quarter net loss attributable to common stockholders of $6.2 million, or $0.09 per share, compared to a $16.4 million loss in the prior-year period. Research and development expenses decreased 59% to $8.5 million as the company completed enrollment in its Phase II COVALENT-211 trial for icovamenib in insulin-deficient type 2 diabetes. The firm also announced first-in-human Phase I results for BMF-650, an oral GLP-1 receptor agonist candidate, which demonstrated weight reduction and favorable tolerability. Cash, cash equivalents, and restricted cash stood at $26.8 million as of September 30, 2026, providing a projected runway into the second quarter of 2027. Biomea Fusion is a clinical-stage diabetes and obesity medicines company focused on developing oral small molecule therapeutic candidates.