This Pharma Stock Dropped 60% Premarket As FDA Halted Diabetes Drug Trials
Portfolio Pulse from Benzinga Neuro
Biomea Fusion, Inc. (NASDAQ:BMEA) saw its stock drop by 60.3% pre-market after the FDA imposed a full clinical hold on its Phase I/II trials for BMF-219, a diabetes treatment, due to concerns over potential drug-induced hepatotoxicity. Despite the hold, the company will continue to gather safety and efficacy data.
June 07, 2024 | 10:20 am
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Biomea Fusion's stock dropped 60.3% pre-market after the FDA imposed a clinical hold on its diabetes drug trials due to potential hepatotoxicity. The company will continue to gather safety and efficacy data.
The FDA's clinical hold on Biomea Fusion's trials is a significant regulatory setback, causing a sharp decline in the stock price. The hold raises concerns about the safety of BMF-219, impacting investor confidence.
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