Biomea Fusion Q3 net loss narrows on lower R&D expenses
BMEA•Biomea Fusion reported a third-quarter net loss of $6.20 million, citing lower research and development expenses. It completed enrollment in its Phase II COVALENT-211 trial and expects topline data in the first quarter of 2027.
1. Quarterly results
Biomea Fusion reported a third-quarter net loss of $6.20 million and a loss of $0.09 per basic share. The company said lower costs for nonclinical programs, manufacturing, consultants, clinical activities, headcount and facilities reduced research and development expenses.
2. Trial and cash outlook
The company completed enrollment in the Phase II COVALENT-211 trial and expects topline data in the first quarter of 2027. It expects COVALENT-212 topline data in the second quarter of 2027 and projects its cash runway into the second quarter of 2027.
