Biomea Fusion, Inc.
BMEA evidence brief
What we can confirm
- BioSniper Score:
- 6.3 / 10
- Market Cap:
- $94.6M
- Lead Asset:
- BMF-500 (Phase 1)
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 is a clinical-stage biotech company developing covalent small-molecule drugs for diabetes, obesity, and oncology, with a lead menin inhibitor icovamenib in Phase II trials and an oral GLP-1 receptor agonist BMF-650 in Phase I.
Key risk: Cash runway limited
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$94.6M
Cash Runway
—
Lead Asset
BMF-500 (Phase 1)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 6 clinical trials for Biomea Fusion, Inc..
Biomea Fusion is a clinical-stage biotech company developing covalent small-molecule drugs for diabetes, obesity, and oncology, with a lead menin inhibitor icovamenib in Phase II trials and an oral GLP-1 receptor agonist BMF-650 in Phase I.
- Lead asset icovamenib (BMF-219), a menin inhibitor, is being evaluated in two ongoing Phase II trials for type 1 and type 2 diabetes [sec_mda · as of 2026-08-05].
- BMF-650, an oral GLP-1 receptor agonist for obesity, received FDA IND clearance and is in a Phase I trial with topline results expected in Q3 2026 [sec_mda · as of 2026-08-05].
- Cash & equivalents were $34.8M as of 2026-06-30, with net income of -$8.3M and shareholders' equity of $12.1M [sec].
- The company has not generated any revenue from product sales and has devoted substantially all resources to R&D since 2017 [sec_mda · as of 2026-08-05].
- Biomea is shifting strategic focus from oncology to metabolic disorders, planning to conclude oncology studies and seek partnerships for its FLT3 inhibitor BMF-500 [sec_mda · as of 2026-08-05].
What works
- Icovamenib has shown in preclinical studies the ability to normalize glucose levels during treatment and even after drug washout, suggesting potential for durable glycemic control [sec_mda · as of 2026-08-05].
- The company has two clinical-stage programs (icovamenib in Phase II, BMF-650 in Phase I) targeting large markets (diabetes and obesity) with differentiated mechanisms [sec_mda · as of 2026-08-05].
- BMF-650 is designed with enhanced oral bioavailability and a unique PK profile, enabling rapid, one-step dose escalation, which could offer a best-in-class oral GLP-1 option [sec_mda · as of 2026-08-05].
What to weigh
- Biomea has never generated product revenue and remains entirely dependent on external financing to fund operations [sec_mda · as of 2026-08-05].
- Cash and equivalents of $34.8M as of 2026-06-30, combined with a net loss of $8.3M in the latest period, imply a limited runway without additional capital [sec].
- The strategic pivot away from oncology leaves the FLT3 inhibitor BMF-500 without committed internal resources, and partnership outcomes are uncertain [sec_mda · as of 2026-08-05].
- Clinical data for icovamenib beyond 52 weeks in type 2 diabetes (reported Oct 2025) have not yet demonstrated a clear regulatory path or commercial differentiation [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
Icovamenib is being studied in two Phase II trials for diabetes.
“icovamenib is being evaluated in type 1 and type 2 diabetes across two ongoing phase II clinical trials.”
SEC MD&A · August 5, 2026
BMF-650 Phase I topline results expected in Q3 2026.
“Our Phase I GLP-131 trial for BMF-650 in obese, otherwise healthy volunteers is ongoing, with topline results expected in the third quarter of 2026.”
SEC MD&A · August 5, 2026
Company has no product revenue.
“We have not generated any revenue from product sales and, as a result, we have never”
SEC MD&A · March 24, 2026
Catalyst timeline
- 2025-10-23 · Phase 1 start for BMF-650 (oral GLP-1) in obesity — Initiation of a Phase 1 dose-escalation study in overweight/obese volunteers; topline results expected Q3 2026.
- 2023-12-28 · Phase 2 start for icovamenib in type 1 diabetes — Randomized, double-blind trial of BMF-219 vs placebo in type 1 diabetes participants.
- 2026-03-27 · Phase 2 start for icovamenib (additional cohort) — A Phase 2 randomized, double-blind, placebo-controlled trial assessing efficacy and safety of icovamenib.
Risks & what to watch (4)›
Key risks
- Cash runway limited — With $34.8M cash and a quarterly net loss of $8.3M, the company may have under 12 months of runway without new financing [sec].
- No approved products or revenue — Biomea has never generated product revenue and relies entirely on external funding [sec_mda · as of 2026-08-05].
- Clinical data uncertainty — Icovamenib's 52-week data (Oct 2025) have not yet established a clear regulatory or commercial path [sec_mda · as of 2026-08-05].
- Strategic pivot execution risk — Shifting focus from oncology to metabolic disorders may disrupt ongoing programs and partnership efforts for BMF-500 [sec_mda · as of 2026-08-05].
What to watch
- Topline Phase I results for BMF-650 expected in Q3 2026 [sec_mda · as of 2026-08-05].
- Progress of Phase II trials for icovamenib in type 1 and type 2 diabetes [sec_mda · as of 2026-08-05].
- Any partnership or out-licensing announcements for the oncology asset BMF-500 [sec_mda · as of 2026-08-05].
- Cash burn rate and potential need for additional financing given $34.8M cash and ongoing losses [sec].
Sources: Catalysts · SEC MD&A · Generated September 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 2.04 · 0% dilution
Lead: Phase 2
3 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
64
Total value held
$37.1M
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 8,813,359 | $13.5M |
| vanguard capital management llc | 2,597,300 | $4.0M |
| aisling capital management lp | 2,048,757 | $3.1M |
| renaissance technologies llc | 1,312,798 | $2.0M |
| marshall wace, llp | 1,198,551 | $1.8M |
| citadel advisors llc | 656,817 | $1.0M |
| mariner, llc | 654,578 | $1.0M |
| blackrock, inc. | 641,435 | $981K |
| susquehanna international group, llp | 629,865 | $964K |
| fideuram - intesa sanpaolo private banking s.p.a. | 557,036 | $852K |
Showing top 10 of 64 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 is a clinical-stage biotech company developing covalent small-molecule drugs for diabetes, obesity, and oncology, with a lead menin inhibitor icovamenib in Phase II trials and an oral GLP-1 receptor agonist BMF-650 in Phase I.
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.
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.
What therapeutic areas does Biomea Fusion, Inc. focus on?
Biomea Fusion, Inc. develops therapies across Oncology, Metabolic.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.