Biomea Fusion Announces FDA And Health Canada Clearance Of The Expansion Cohorts Of The Ongoing COVALENT-111 Phase II Study
Portfolio Pulse from Benzinga Newsdesk
Biomea Fusion, Inc. (NASDAQ:BMEA) has received clearance from the FDA and Health Canada to initiate the expansion portion of the COVALENT-111 Phase II study. The study will evaluate BMF-219, a novel covalent small molecule, in type 2 diabetes patients. The expansion will consist of approximately 300 patients and will begin to enroll three cohorts immediately. Topline results of the escalation portion are anticipated in Q4 2023.
September 28, 2023 | 12:32 pm
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POSITIVE IMPACT
Biomea Fusion's stock may see positive movement following the FDA and Health Canada's clearance for the expansion of the COVALENT-111 Phase II study. The study's results could potentially impact the company's future revenue and market position.
The clearance from the FDA and Health Canada for the expansion of the COVALENT-111 Phase II study is a significant milestone for Biomea Fusion. This could potentially lead to a positive impact on the company's stock as it indicates progress in their research and development efforts. Furthermore, the successful development and commercialization of BMF-219 could potentially lead to increased revenues for the company in the future.
CONFIDENCE 85
IMPORTANCE 80
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