Biomea Fusion, Inc. (NASDAQ: BMEA) is engaged as a clinical-stage biopharmaceutical company, which is focused on the research, discovery and development of novel covalent small molecules to treat various types of metabolic diseases and cancers. Shares of the biopharma company are surging 69% through early trading on Tuesday, March 28, 2023. Over the past three months, Biomea Fusion has seen average daily volume of 106,890 shares. However, volume of 9.24 million shares or dollar volume of around $236.54 million, has already exchanged hands through early trading.
Shares of Biomea Fusion are soaring after the company revealed positive initial results for the first two patient cohorts suffering from type 2 diabetes mellitus (T2DM) who participated in the Phase II segment of their ongoing Phase I/II trial (COVALENT-111) featuring BMF-219, their exciting novel covalent menin inhibitor. After four weeks of daily 100 mg doses of BMF-219, Cohort 3 experienced an impressive A1c reduction, with 89% seeing a drop, 78% achieving a minimum 0.5% reduction, and a whopping 56% achieving an impressive 1% drop.
The Beta cell loss associated with both Type 2 and Type 1 Diabetes is a critical factor in the development and progression of the disease. Menin, in particular, has been identified as a primary inhibitor of Beta cell regeneration and recovery. That’s why Biomea created BMF-219 – a groundbreaking solution specifically designed to inhibit menin, thus taking the brakes off Beta cell restoration and allowing for their reactivation and preservation. For the first time, clinical observations of patients with diabetes have uncovered an impressive glucose-lowering effect induced by a novel menin inhibitor with a possible disease-altering mechanism of action. This could lead to sustained glycemic control even after treatment cessation.
Dr. Jose E. Rodriguez, a treating physician in COVALENT-111, stated that his patients experienced great benefits from being included in the study, with hardly any side effects and easy acceptance. Patients have seen positive health improvements, feeling better overall, happier, and more energetic than before they started the study. Further analysis and a detailed data summary will be presented at an upcoming major medical meeting.
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