Why Biomea Fusion (BMEA) Stock Is Down 60%
Portfolio Pulse from Henry Khederian
Biomea Fusion Inc (NASDAQ:BMEA) shares plummeted by 62.7% to $4.20 after the FDA placed a clinical hold on its BMF-219 trials due to concerns about potential drug-induced hepatotoxicity. Despite no serious adverse reactions, the company will continue collecting safety and efficacy data and work with the FDA to address the issues. The stock has received several analyst rating revisions and has lost 89.72% year to date.
June 07, 2024 | 4:04 pm
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NEGATIVE IMPACT
Biomea Fusion's stock dropped 62.7% after the FDA placed a clinical hold on its BMF-219 trials due to potential hepatotoxicity concerns. The company is working with the FDA to address these issues, but the stock has received several analyst rating revisions and has lost 89.72% year to date.
The FDA's clinical hold on BMF-219 trials due to potential hepatotoxicity is a significant regulatory setback, leading to a sharp decline in BMEA's stock price. The stock has also received several analyst rating revisions, further impacting investor sentiment negatively.
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