Biomea Fusion, Inc.
BMEA evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for BMEA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · BMEA
Biomea Fusion, Inc. is a clinical-stage biopharmaceutical company developing small molecule therapies for metabolic diseases, with lead candidate icovamenib in Phase II trials for type 1 and type 2 diabetes and a Phase I candidate BMF-650 for obesity.
Key risk: No revenue or profitability
BioSniper Score
Based on 5 of 6 signals
Market Cap
$125.4M
Cash Runway
10.6 moLead Asset
BMF-500 (Phase 1)
Next Catalyst
Phase2_Topline · Dec 31, 2026Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 6 clinical trials · 1 catalyst for Biomea Fusion, Inc..
Biomea Fusion, Inc. is a clinical-stage biopharmaceutical company developing small molecule therapies for metabolic diseases, with lead candidate icovamenib in Phase II trials for type 1 and type 2 diabetes and a Phase I candidate BMF-650 for obesity.
- Lead product candidate icovamenib is in Phase II clinical trials for both type 1 and type 2 diabetes [sec_mda · as of 2026-03-24].
- BMF-650, a candidate for obesity, is in a Phase I clinical trial with an additional cohort announced in June 2026 [sec_mda · as of 2026-08-05].
- As of June 30, 2026, the company reported cash & equivalents of $35.2M, net income of -$8.3M, and shareholders' equity of $27.5M [sec].
- The company has never been profitable and had an accumulated deficit of $453.7 million as of September 30, 2025 [sec_mda · as of 2025-11-04].
- Based on its operating plan as of November 2025, existing cash was expected to fund operations only into the first quarter of 2027 [sec_mda · as of 2025-11-04].
What works
- Icovamenib is being evaluated in two Phase II trials for type 2 diabetes and type 1 diabetes, indicating a broad metabolic disease pipeline [sec_mda · as of 2026-03-24].
- The company is advancing BMF-650 into Phase I for obesity, a large and growing market, with an additional cohort added in June 2026 [sec_mda · as of 2026-08-05].
What to weigh
- The company has no approved products and has never generated revenue from product sales, relying entirely on external financing [sec_mda · as of 2025-11-04].
- As of November 2025, cash runway was projected only into Q1 2027, and the company expects to continue incurring significant losses [sec_mda · as of 2025-11-04].
- Clinical research is costly and time-consuming, and expenses will increase as trials advance, with no guarantee of regulatory approval [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
The company had an accumulated deficit of $453.7 million as of September 30, 2025.
“As of September 30, 2025, we had an accumulated deficit of $453.7 million.”
SEC MD&A · November 4, 2025
Existing cash was expected to fund operations only into the first quarter of 2027.
“Based on our current operating plan, we believe that our existing cash and cash equivalents, and restricted cash as of September 30, 2025, without any future financing, will only be sufficient to fund our operations into the first quarter of 2027.”
SEC MD&A · November 4, 2025
The company is conducting two Phase II trials of icovamenib in type 2 diabetes and a Phase I trial of BMF-650.
“conduct our ongoing preclinical studies, our two Phase II clinical trials of icovamenib in type 2 diabetes and our Phase I clinical trial of BMF-650 in obese, otherwise healthy volunteers”
SEC MD&A · May 11, 2026
Catalyst timeline
- 2026-12-31 · Phase2_Topline — Phase 2 Readout: type 2 diabetes — Topline data from the Phase II trial of icovamenib in type 2 diabetes is expected, which will inform the drug's efficacy and potential path to registration.
Risks & what to watch (3)›
Key risks
- No revenue or profitability — The company has never generated product revenue and expects to continue incurring significant losses [sec_mda · as of 2025-11-04].
- Cash runway limited — As of September 30, 2025, cash was expected to fund operations only into Q1 2027 without additional financing [sec_mda · as of 2025-11-04].
- Clinical trial uncertainty — Clinical research is costly and time-consuming; trial results may not support regulatory approval [sec_mda · as of 2026-08-05].
What to watch
- Phase II topline data for icovamenib in type 2 diabetes expected by December 31, 2026 [upcoming catalysts].
- Progress and enrollment updates for the Phase I trial of BMF-650 in obesity [sec_mda · as of 2026-08-05].
- Cash position and any future financing activities to extend runway beyond Q1 2027 [sec_mda · as of 2025-11-04].
Sources: SEC filings · SEC MD&A · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
10.6 months
D/E 2.04 · 0% dilution
Lead: Phase 2
3 candidates
1 upcoming, next in ~123d
No insider transactions in the last 180 days
Runway
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
62
Total value held
$37.8M
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 8,813,359 | $13.5M |
| vanguard capital management llc | 5,194,600 | $7.9M |
| renaissance technologies llc | 1,312,798 | $2.0M |
| marshall wace, llp | 1,198,551 | $1.8M |
| citadel advisors llc | 903,717 | $1.4M |
| susquehanna international group, llp | 856,665 | $1.3M |
| blackrock, inc. | 641,435 | $981K |
| fideuram - intesa sanpaolo private banking s.p.a. | 557,036 | $852K |
| geode capital management, llc | 548,186 | $839K |
| xtx topco ltd | 530,542 | $812K |
Showing top 10 of 62 institutional holders of Biomea Fusion, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 20, 2026- % of float
- 24.2%
- Days to cover
- 7.2
- Shares short
- 14,358,300
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
BMEA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Biomea Fusion, Inc.?
Biomea Fusion, Inc. is a clinical-stage biopharmaceutical company developing small molecule therapies for metabolic diseases, with lead candidate icovamenib in Phase II trials for type 1 and type 2 diabetes and a Phase I candidate BMF-650 for obesity.
What is Biomea Fusion, Inc.'s lead drug candidate?
Biomea Fusion, Inc.'s most advanced tracked candidate is BMF-500 (Phase 1) for Acute Myeloid Leukemia.
What is Biomea Fusion, Inc.'s next catalyst?
Biomea Fusion, Inc.'s next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: type 2 diabetes" — expected December 31, 2026.
Who is the CEO of Biomea Fusion, Inc.?
Dr. Michael J. M. Hitchcock Ph.D. is the chief executive officer of Biomea Fusion, Inc. (BMEA).
Where is Biomea Fusion, Inc. headquartered?
Biomea Fusion, Inc. (BMEA) is headquartered in San Carlos, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.