Biomea Fusion(BMEA)
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Biomea Fusion(BMEA) - 2022 Q2 - Quarterly Report
2022-07-31 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value BMEA The Nasdaq Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commissio ...
Biomea Fusion(BMEA) - 2022 Q1 - Quarterly Report
2022-05-15 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value BMEA The Nasdaq Global Select Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commissi ...
Biomea Fusion(BMEA) - 2021 Q4 - Annual Report
2022-02-27 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-40335 Biomea Fusion, Inc. (Exact name of Registrant as specified in its Charter) Delaware 82-2520134 (State or other jurisdiction of ...
Biomea Fusion(BMEA) - 2021 Q3 - Quarterly Report
2021-11-02 16:00
Financial Performance - As of September 30, 2021, the company had an accumulated deficit of $35.0 million and incurred net losses of $12.6 million and $26.9 million for the three and nine months ended September 30, 2021, respectively[97]. - The company expects to continue incurring significant losses for the foreseeable future as it advances its research and development efforts and seeks regulatory approvals[99]. - Net cash used in operating activities was $19.5 million for the nine months ended September 30, 2021, primarily due to a net loss of $26.9 million[118]. - The impact of the COVID-19 pandemic may exacerbate the company's funding requirements and operational challenges[114]. Research and Development - Research and development expenses were $7.9 million for the three months ended September 30, 2021, compared to $0.8 million for the same period in 2020, representing an increase of $7.1 million[108]. - Research and development expenses for the nine months ended September 30, 2021, were $16.9 million, compared to $1.3 million for the same period in 2020, reflecting increased preclinical development costs[108]. - The company is developing its lead product candidate, BMF-219, for the treatment of liquid and solid tumors, with FDA clearance for its first Phase I trial announced in September 2021[96]. - The company has initiated preclinical work to assess the potential of the menin pathway in type 2 diabetes and expects to report findings in the first quarter of 2022[97]. Operating Expenses - Total operating expenses for the three months ended September 30, 2021, were $12.6 million, an increase of $11.5 million compared to $1.1 million for the same period in 2020[107]. - The company anticipates that general and administrative expenses will increase substantially due to staff expansion and costs associated with being a public company[105]. - General and administrative expenses increased to $4.8 million for the three months ended September 30, 2021, from $0.3 million in the same period of 2020, primarily due to increased personnel-related expenses and corporate costs[110]. Capital and Financing - The company completed its initial public offering in April 2021, issuing 9,000,000 shares at a price of $17.00 per share, raising approximately $152.8 million net of underwriting discounts and commissions[99]. - Net cash provided by financing activities was $152.9 million for the nine months ended September 30, 2021, primarily from the IPO proceeds[121]. - The company anticipates needing to raise substantial additional capital to fund product development and operations, with requirements depending on various factors including clinical trials and regulatory reviews[112]. Cash Position - As of September 30, 2021, the company had cash, cash equivalents, restricted cash, and investments totaling $191.9 million, with an accumulated deficit of $35.0 million[111]. - The company held $191.9 million in cash and cash equivalents as of September 30, 2021, with no interest-bearing liabilities[126]. Lease Obligations - Monthly lease payments for new lab space in San Carlos, California, are $57,638 with annual increases of 3%[122].
Biomea Fusion(BMEA) - 2021 Q2 - Quarterly Report
2021-08-10 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40335 Biomea Fusion, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 82-2520134 ( State or other jurisdiction ...
Biomea Fusion(BMEA) - 2021 Q1 - Quarterly Report
2021-05-26 16:00
Financial Performance - The company reported a net loss of $5.9 million for the three months ended March 31, 2021, compared to a net loss of $0.4 million for the same period in 2020, representing an increase in losses of $5.5 million [112]. - The company had an accumulated deficit of $14.0 million as of March 31, 2020, primarily due to research and development and general administrative expenses [102]. - Net cash used in operating activities was $4.1 million for the three months ended March 31, 2021, primarily due to a net loss of $5.9 million [121]. - Cash provided by financing activities was $3,000 for the three months ended March 31, 2021 [123]. Research and Development - Research and development expenses increased to $3.8 million for the three months ended March 31, 2021, from $0.3 million in the same period in 2020, primarily due to increased preclinical development costs [113]. - The company expects to continue incurring significant operating losses and increasing expenses as it advances its research and development efforts, including the submission of INDs for product candidates [102]. - The company anticipates substantial increases in research and development expenses as it initiates and completes clinical trials for its product candidates [107]. - The company plans to file an IND with the FDA for its lead product candidate, BMF-219, in the second half of 2021 [102]. General and Administrative Expenses - General and administrative expenses rose to $2.1 million for the three months ended March 31, 2021, compared to $0.1 million in the same period in 2020, driven by increased personnel and professional services expenses [114]. Capital and Financing - The company completed its IPO in April 2021, issuing 9,000,000 shares at $17.00 per share, resulting in net proceeds of approximately $152.8 million [104]. - As of March 31, 2021, the company had cash, cash equivalents, restricted cash, and investments totaling $57.5 million [115]. - The company had an accumulated deficit of $14.0 million and anticipates needing to raise substantial additional capital for product development and operations [116]. - The company expects to continue requiring additional capital through various financing methods, which may not be available on acceptable terms [116]. Cash Flow and Investments - Cash used in investing activities was $38.5 million for the three months ended March 31, 2021, mainly related to cash investments in securities [122]. - The company held $57.5 million in cash, cash equivalents, restricted cash, and investments as of March 31, 2021 [130]. Operational Considerations - The company relies on third parties for manufacturing and does not have its own manufacturing facilities [104]. - Future lease payments for office and lab space total $137,000 for leases expiring in 2021, with an additional $244,000 for a sublease agreement [124]. - The company entered into a promissory note for a $35,637 PPP Loan, which was fully repaid in Q2 2021 [119]. - The impact of the COVID-19 pandemic may exacerbate the company's capital requirements and operational challenges [116]. - The company has no off-balance sheet arrangements as of the reporting periods presented [125].