NASDAQ$BMEA
Biomea Fusion Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported second quarter 2023 financial results and business highlights.
Biomea Fusion reported second quarter results with a cash position of $223.3 million. The company highlighted positive clinical data from its BMF-219 program in type 2 diabetes and initial responses in relapsed/refractory AML from its COVALENT-101 trial.
- Reported additional positive clinical data from the first two cohorts of patients with type 2 diabetes from ongoing Phase I/II study evaluating BMF-219.
- Reported initial topline data from ongoing Phase I clinical trial showcasing initial responses in relapsed/refractory Acute Myeloid Leukemia (AML).
- Continued enrolling four liquid tumor cohorts in ongoing Phase I study of BMF-219, and three KRAS-mutated solid tumors in ongoing Phase I study of BMF-219.
- Continued advancing second product candidate, BMF-500, a novel third generation covalent inhibitor of fms-like tyrosine kinase 3 (FLT3), toward the clinic; initiated a Phase I study of BMF-500.
Headline financials
Revenue & EPS history
Biomea Fusion · Revenue · Quarterly
-$0.51
Forward guidance
Biomea Fusion anticipates completing dose escalation in COVALENT-111 by YE 2023, initiating the dose expansion portion of COVALENT-111 in Q1 2024, and initiating a clinical trial in Type 1 Diabetes patients in Q1 2024. They also anticipate reporting additional details of the clinical data set of AML/ALL patients dosed in the COVALENT-101 study at an upcoming medical conference.
Tailwinds
- Complete dose escalation in COVALENT-111 (YE 2023)
- Initiate dose expansion portion of COVALENT-111 (Q1 2024)
- Initiate a clinical trial in Type 1 Diabetes patients (Q1 2024)
- Report additional details of this clinical data set of AML/ALL patients dosed in the COVALENT-101 study at an upcoming medical conference
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2023
+5.2%
Avg return
Earnings day
+3.3%
Avg return
5 days after
+3.0%
Avg return
30 days after
40%
8 / 20 earnings
Positive
+109.7%
Q4 2022
Best reaction
-16.7%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +15.3% | -13.5% | -23.7% | |
| Q3 2025 | -0.7% | -4.3% | -21.0% | |
| Q2 2025 | +0.6% | -3.2% | +21.5% | |
| Q1 2025 | -1.3% | -4.6% | +73.0% | |
| Q4 2024 | +1.2% | -7.8% | -8.7% | |
| Q3 2024 | -16.7% | -27.2% | -43.4% | |
| Q1 2024 | +6.7% | +3.7% | -9.1% | |
| Q4 2023 | -14.4% | -14.8% | -22.6% | |
| Q3 2023 | -6.8% | -7.9% | +16.3% | |
| Q2 2023 | -2.4% | -9.3% | -22.2% | |
| Q1 2023 | -3.3% | +2.6% | +12.5% | |
| Q4 2022 | +109.7% | +101.0% | +84.6% | |
| Q3 2022 | -15.6% | -29.4% | -43.3% | |
| Q2 2022 | +3.3% | +11.8% | +8.5% | |
| Q1 2022 | +35.2% | +69.4% | +127.2% | |
| Q4 2021 | -13.8% | -7.7% | -36.2% | |
| Q3 2021 | +7.6% | +2.0% | -7.9% | |
| Q2 2021 | -0.6% | -11.0% | -3.4% | |
| Q1 2021 | -0.3% | +7.9% | -21.4% | |
| Q4 2020 | -0.3% | +7.9% | -21.4% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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