Biomea Fusion Inc

Biomea Fusion recorded a narrowed net loss of $8.33 million, or $0.12 per share, for the second quarter ended June 30, 2026, compared to a loss of $20.74 million, or $0.51 per share, a year earlier. Cash, cash equivalents and restricted cash totaled $35.19 million as of June 30, 2026. The company expects primary endpoint data from the Phase 2 COVALENT-211 trial of icovamenib for insulin-deficient type 2 diabetes in the first quarter of next year, and from the Phase 2 COVALENT-212 trial in patients on GLP-1 receptor agonist-based therapy in the second quarter of 2027. Biomea is also planning a Phase 2 trial of extended icovamenib dosing in collaboration with four U.S. academic centers, with initiation expected in the second half of 2026, and has entered a research collaboration with the University of Leicester for a separate Phase 2 trial with enrollment beginning in the third quarter of this year. For its obesity candidate BMF-650, initial 28-day clinical weight-loss data from the ongoing Phase 1 GLP-131 trial are expected in the third quarter of 2026.