Biomea Fusion(US:BMEA)2025-11-04 21:03Financial Performance - Biomea Fusion reported a net loss of $16.4 million for Q3 2025, a decrease from a net loss of $32.8 million in Q3 2024, reflecting a year-over-year improvement of approximately 50%[12][21] - Total operating expenses for Q3 2025 were $20.8 million, down from $34.0 million in Q3 2024, indicating a reduction of approximately 39%[21] - The company reported a decrease in General and Administrative (G&A) expenses to $4.2 million in Q3 2025 from $6.8 million in Q3 2024, a reduction of approximately 38%[15][21] - The company’s stock-based compensation for Q3 2025 was $1.9 million, down from $4.7 million in Q3 2024, reflecting a decrease of approximately 60%[21] Research and Development - Research and Development (R&D) expenses were $14.4 million for Q3 2025, down from $27.2 million in Q3 2024, marking a decrease of approximately 47%[15][21] - Icovamenib demonstrated a sustained 1.5% mean reduction in HbA1c at Week 52 in patients with severe insulin-deficient diabetes, following only 12 weeks of dosing[6] - Icovamenib is moving rapidly into two Phase II studies targeting specific patient subtypes, with the initiation of a Phase IIb trial expected in Q4 2025[10][14] - Biomea has dosed its first patient in a Phase I study for BMF-650, its next-generation oral GLP-1 receptor agonist, with 28-day weight reduction data expected in H1 2026[11][13] Financial Position - The company raised approximately $68 million in gross proceeds through two public offerings, extending its cash runway into Q1 2027[5] - As of September 30, 2025, the company had cash, cash equivalents, and restricted cash of $47.0 million[14][23]