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Investing.com -- Biomea Fusion Inc (NASDAQ:BMEA) stock tumbled 27.4% after the clinical-stage diabetes and obesity company announced plans for an underwritten public offering of its common stock and accompanying warrants.
The offering includes shares of common stock, pre-funded warrants in lieu of common stock for certain investors, and accompanying warrants to purchase shares of its common stock. Biomea also intends to grant underwriters a 30-day option to purchase up to an additional 15% of the shares and pre-funded warrants offered in the public offering.
Jefferies is acting as the sole book running manager for the proposed offering, which is expected to close around June 20, 2025, subject to customary closing conditions.
The company noted that the proposed offering is subject to market and other conditions, with no assurance regarding completion, size, or terms of the offering. All securities in the proposed offering will be sold by Biomea Fusion.
Biomea Fusion trades on the Nasdaq under the ticker BMEA and focuses on developing treatments for diabetes and obesity. The significant stock decline reflects typical market reaction to public offerings, which often dilute existing shareholders’ equity.
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