The investigation concerns whether Biomea and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. On June 6, 2024, Biomea issued a press release "announc[ing] that the Company has received notice from the U.S. Food and Drug Administration (FDA) that a full clinical hold has been placed on Biomea's ongoing Phase I/II clinical trials of the Company's investigational covalent menin inhibitor BMF-219 in type 2 and type 1 diabetes (COVALENT-111 and COVA ...

[Click here for information about joining the class action] CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980 On this news, Biomea's stock price fell $7.13 per share, or 63.27%, to close at $4.14 per share on June 7, 2024. NEW YORK, June 7, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Biomea Fusion, Inc. ("Biomea" or the "Company") (NASDAQ: BMEA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ...

Core Viewpoint - Biomea Fusion has announced a clinical hold on its Phase I/II trials for BMF-219 due to safety concerns related to potential drug-induced hepatotoxicity, which has resulted in significant stock price decline [1][4]. Company Summary - Biomea Fusion's candidate BMF-219 is intended for the treatment of type 1 and type 2 diabetes, and the company will continue to gather safety and efficacy data during the clinical hold [5]. - The company asserts that preliminary results indicate BMF-219 is generally well-tolerated and can improve glycemic control and insulin production [5]. Stock Performance - Following the announcement of the clinical hold, BMEA stock has dropped 63% as of Friday morning, and it was down 23.2% year-to-date as of the previous market close [5]. - Approximately 500,000 shares of BMEA stock were traded during pre-market hours, compared to the company's daily average trading volume of about 952,000 shares [7].

So, how does a shorted stock become a short squeeze stock? It all depends on an unexpected event causing the stock's value to increase, which forces the investors who shorted the stock to buy themselves out of their short positions to mitigate losses. Because these investors exit the position through a buy signal, it causes even more value creation for the stock, creating a short squeeze and spiking the stock. This sharp spike resembles the wavelength of a gamma ray, hence why it is often referred to as a g ...

About COVALENT-111 REDWOOD CITY, Calif., June 06, 2024 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc. ("Biomea" or the "Company") (Nasdaq: BMEA), announced that the Company has received notice from the U.S. Food and Drug Administration (FDA) that a full clinical hold has been placed on Biomea's ongoing Phase I/II clinical trials of the Company's investigational covalent menin inhibitor BMF-219 in type 2 and type 1 diabetes (COVALENT111 and COVALENT-112), respectively. The Company will continue ongoing safety and e ...

For those seeking blistering returns in a relatively short amount of time, short-squeeze stocks may be the go-to place. Here, contrarians leverage the power of psychology to the extreme, leading to possibly intense fervor. To recap, a short position starts when a speculator borrows shares of the targeted enterprise from a broker. From there, the trader dumps the securities in the hopes of picking them up later at a discount. The aim is to return the borrowed shares back to the broker and pocket the differen ...

REDWOOD CITY, Calif., May 30, 2024 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc. ("Biomea") (Nasdaq: BMEA), a clinical-stage biopharmaceutical company dedicated to discovering and developing oral covalent small molecules to treat and improve the lives of patients with metabolic diseases and genetically defined cancers, today announced the completion of enrollment of the first three dose expansion arms of COVALENT- 111, with a total of over 260 type 2 diabetes patients enrolled. Forward-Looking Statements About CO ...

Core Insights - Biomea Fusion, Inc. has completed enrollment for the first three dose expansion arms of the COVALENT-111 study, with over 260 type 2 diabetes patients participating [1][4] Group 1: Study Overview - COVALENT-111 is a multi-site, randomized, double-blind, placebo-controlled Phase I/II clinical trial focusing on type 2 diabetes patients who are uncontrolled by standard care [2][5] - The Phase II portion includes multiple dose escalation and expansion cohorts, evaluating the drug BMF-219 over varying durations and dosages [2][5] Group 2: Drug Details - BMF-219 is being evaluated for its ability to provide durable glycemic control, with early results showing promising outcomes after just 4 weeks of treatment [4] - The expansion phase aims to investigate the effects of longer dosing regimens of BMF-219, specifically over 8 to 12 weeks [4] Group 3: Company Background - Biomea Fusion is focused on developing oral covalent small molecules to treat metabolic diseases and genetically defined cancers, offering potential advantages over conventional drugs [6][7] - The company utilizes its proprietary FUSION™ System to design and develop next-generation medicines aimed at maximizing clinical benefits for patients [7]

Possible short-squeeze targets Source: Barchart The surge in GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) stocks, which added over 100% in their value in just one day, has hinted at the craze that was gripping the stock market when meme mania hit and has already caused short-sellers to lose over $1 billion, while GME and AMC stocks added over $6 billion to their market caps in the process. Now, the question is whether this surge is sustainable, whether it can spread to other stocks deemed 'meme st ...

Exhibit 99.1 Biomea Fusion Reports First Quarter 2024 Financial Results and Corporate Highlights REDWOOD CITY, Calif., May 02, 2024 (GLOBE NEWSWIRE) - Biomea Fusion, Inc. ("Biomea" or "the Company") (Nasdaq: BMEA), a clinical-stage biopharmaceutical company dedicated to discovering and developing oral covalent small molecules to treat and improve the lives of patients with metabolic diseases and genetically defined cancers, reported first quarter 2024 financial results and corporate highlights. DIABETES • R ...