Biomea Fusion Inc · Q4 2021 earnings

Briefing

Reported fourth quarter and full year 2021 financial results.

Biomea Fusion reported a net loss attributable to common stockholders of $41.6 million for the year ended December 31, 2021, compared to a net loss of $5.3 million for the same period in 2020. As of December 31, 2021, the Company had cash, cash equivalents, restricted cash, and investments of $175.7 million.

• Phase I trial of BMF-219, an irreversible covalent menin inhibitor, is currently underway.
• Plan to initiate trials of BMF-219 in up to seven solid and liquid tumor types and diabetes.
• Plan to announce second clinical candidate in the first half of 2022.
• Cash, cash equivalents, restricted cash, and investments of $175.7 million.

Headline financials

Revenue & EPS history

Expected Milestones in 2022 include initiating enrollment of patients with MM and DLBCL in Phase I clinical trial of BMF-219, announcing further preclinical data for BMF-219 in liquid and solid tumors, announcing preclinical validation for BMF-219 in diabetes, announcing second irreversible covalent inhibitor pipeline candidate in the first half of 2022, submission of an IND for BMF-219 in diabetes in the second half of 2022, and submission of an IND for BMF-219 in KRAS-mutant solid tumors, including patients with non-small cell lung cancer (NSCLC), pancreatic cancer, and colorectal cancer (CRC) in the fourth quarter of 2022.