Biomea Fusion Q3 net loss narrows
Biomea Fusion reported a Q3 net loss of $16.4 million, down from $32.8 million last year. The company raised $68 million through public offerings, extending its cash runway into 2027. Positive Phase II data for Icovamenib supports further development, while the first patient has been dosed in the Phase I study for BMF-650. R&D expenses decreased significantly to $14.4 million. Analysts maintain a "buy" rating, with a median 12-month price target of $6.50, reflecting a potential 79.7% increase from the current price of $1.32.
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Overview
- Biomea Fusion reports Q3 net loss of $16.4 mln, reduced from $32.8 mln last year
- Company raised $68 mln through public offerings, extending cash runway into 2027
- Icovamenib shows positive Phase II data, BMF-650 doses first patient in Phase I
Result Drivers
- ICOVAMENIB PROGRESS - Phase II results showed durable HbA1c reductions and favorable safety profile, supporting further clinical development
- BMF-650 STUDY INITIATION - First patient dosed in Phase I study for BMF-650, assessing weight loss potential in obesity
- COST REDUCTION - Significant decrease in R&D expenses contributed to reduced net loss
R&D expenses were $14.4 million for the three months ended September 30, 2025, compared to $27.2 million for the same period in 2024
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 Net -$16.40
Income mln
Q3 Basic -$0.27
EPS
Analyst Coverage
- The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 6 “strong buy” or “buy”, 1 “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 $6.50, about 79.7% above its November 3 closing price of $1.32
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (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.)
