Biomea Fusion, Inc. (NASDAQ:BMEA) shares rose 6.61% to $1.45 in after-hours trading Monday after the company announced it would report Phase I results for its investigational oral GLP-1 candidate BMF-650 on Tuesday.
Biomea Fusion is a clinical-stage biopharmaceutical company developing oral small-molecule therapies for diabetes and obesity.
BMF-650 Results Due Tuesday
Biomea Fusion said it will report results from its Phase I GLP-131 clinical study evaluating BMF-650, an investigational next-generation oral small-molecule GLP-1 receptor agonist, on Tuesday, Oct. 13.
The company scheduled a conference call and webcast for 4:30 p.m. ET (1:30 p.m. PT) to discuss the results. The live webcast will be available through the Investors and Media section of the company’s website, with a replay available afterward.
Biomea Fusion is also developing icovamenib, an oral small-molecule therapy for diabetes.
Trading Metrics, Technical Analysis
Biomea Fusion has a market capitalization of approximately $98.58 million.
Over the past year, the stock has traded between a 52-week high of $2.24 and a 52-week low of $0.87. The shares have fallen 17.58% over a 12-month period.
Benzinga Edge Stock Rankings indicate a negative price trend in the short term and positive trends in the medium and long term.
Price Action: In the regular session, Biomea Fusion shares fell 4.23% to close at $1.36 on Monday.
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