Biomea Fusion launches public offering of common stock and warrants

REDWOOD CITY, Calif. - Biomea Fusion, Inc. (NASDAQ:BMEA), a clinical-stage diabetes and obesity company with a market capitalization of $109 million, announced Tuesday it has commenced an underwritten public offering of common stock shares and accompanying warrants. According to InvestingPro data, the company’s stock has seen significant volatility, trading between $1.29 and $13.07 over the past 52 weeks.

The offering includes options for pre-funded warrants in lieu of common stock for certain investors. Biomea plans to grant underwriters a 30-day option to purchase up to an additional 15% of the shares and pre-funded warrants offered. While InvestingPro analysis shows the company holds more cash than debt and maintains a healthy current ratio of 2.25, data indicates it’s quickly burning through cash reserves.

All securities in the proposed offering will be sold by Biomea. The company expects the offering to close around June 20, 2025, subject to customary closing conditions.

Jefferies is serving as the sole book running manager for the offering. The securities are being offered through an effective shelf registration statement on Form S-3 filed with the SEC in October 2022.

The announcement comes with standard cautionary language that the offering is subject to market conditions, with no guarantee regarding completion, size, or terms.

Biomea Fusion describes itself as focused on developing oral small molecules, icovamenib and BMF-650, for patients with diabetes, obesity, and metabolic diseases.

The information in this article is based on a press release statement from the company. The proposed offering remains subject to market conditions and other factors, with no assurance of completion. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with analyst price targets ranging from $3 to $54. For deeper insights into Biomea’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Biomea Fusion reported updates from its Phase 1 COVALENT-103 trial involving BMF-500, a covalent small molecule FLT3 inhibitor, in patients with relapsed or refractory acute leukemia. The trial showed favorable tolerability and positive responses, with many patients experiencing reduced bone marrow blasts and improved survival outcomes. Biomea Fusion’s first-quarter financial report for 2025 revealed an earnings per share (EPS) of ($0.80), which exceeded H.C. Wainwright’s estimate of ($0.85) but did not meet the consensus estimate of ($0.60). The company ended the quarter with $36.2 million in cash reserves, expected to last until the fourth quarter of 2025. H.C. Wainwright adjusted its price target for Biomea Fusion to $18 from $40, maintaining a Buy rating due to changes in revenue projections and the timeline for launching icovamenib. Additionally, Biomea Fusion presented promising data at the ATTD 2025 Conference regarding icovamenib, which may have disease-modifying potential for type 2 diabetes by improving beta-cell function. The investigational drug showed sustained reductions in HbA1c levels and enhanced insulin production, suggesting potential benefits for patients with severe insulin deficiency. Biomea Fusion is actively seeking strategic partnerships to further develop its programs in both oncology and metabolic diseases.

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