Biomea Fusion Q3 net loss narrows
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Biomea Fusion reported a Q3 net loss of $16.4 million, down from $32.8 million last year. The company raised $68 million through public offerings, extending its cash runway into 2027. Positive Phase II data for Icovamenib supports further development, while the first patient has been dosed in the Phase I study for BMF-650. R&D expenses decreased significantly to $14.4 million. Analysts maintain a "buy" rating, with a median 12-month price target of $6.50, reflecting a potential 79.7% increase from the current price of $1.32.
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