Biomea Fusion, Inc. BMEA
We are a clinical‑stage diabetes and obesity medicines company focused on the discovery and development of oral, small molecule drugs to treat and improve the lives of patients with diabetes, obesity, and other metabolic diseases.
The company was founded in 2017 with the goal of creating targeted treatments built through expertise in chemistry and a deep understanding of metabolic biology. Following the strategic realignment announced in 2025, we now operate as an organization centered on two of our core drug candidate development programs: (i) icovamenib, our lead clinical program's drug candidate, currently being developed as an orally bioavailable, and selective, covalent inhibitor of menin in two clinical and multiple preclinical studies, investigating icovamenib's potential in type 1 and type 2 diabetes, as well as its impact in obesity, and (ii) BMF-650, our investigational, next-generation oral glucagon-like peptide-1 GLP-1 receptor agonist (GLP-1 RA) in development for the treatment of obesity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| R&D | $62.0M | $118.1M | $102.5M | $62.7M | $28.0M | $3.7M | $1.1M | — |
| SG&A | $19.3M | $26.0M | $23.6M | $20.9M | $13.7M | $1.7M | $103.0K | — |
| Total operating expenses | $83.5M | $144.1M | $126.1M | $83.6M | $41.7M | $5.3M | $1.2M | — |
| Operating income | -$83.5M | -$144.1M | -$126.1M | -$83.6M | -$41.7M | -$5.3M | -$1.2M | — |
| Interest expense | $1.9M | $5.6M | $8.9M | — | — | — | — | — |
| Pre-tax income | -$61.8M | -$138.4M | -$117.3M | -$81.8M | -$41.6M | -$5.3M | — | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | -$61.8M | -$138.4M | -$117.3M | -$81.8M | -$41.6M | -$5.3M | -$1.2M | — |
| EPS, basic | -1.18 | -3.83 | -3.44 | -2.80 | -1.74 | -0.51 | — | — |
| EPS, diluted | -1.18 | -3.83 | -3.44 | -2.80 | -1.74 | -0.51 | -0.20 | — |
| Shares, diluted (wtd. avg.) | $52.2M | $36.1M | $34.1M | $29.3M | $23.9M | $10.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $55.8M | $58.3M | $176.9M | $112.2M | $146.1M | $61.7M | $239.0K | $78.0K |
| Short-term investments | — | — | — | $1.1M | $27.8M | — | — | — |
| Total current assets | $58.0M | $68.3M | $179.2M | $117.8M | $176.6M | $62.2M | — | — |
| Property, plant and equipment | $153.0K | $3.8M | $5.2M | $5.8M | $3.0M | $81.0K | — | — |
| Total assets | $58.6M | $79.9M | $199.9M | $129.3M | $185.7M | $62.5M | — | — |
| Accounts payable | $3.2M | $12.9M | $6.9M | $6.8M | $1.3M | $727.0K | — | — |
| Total current liabilities | $11.1M | $21.7M | $22.9M | $19.1M | $4.6M | $1.6M | — | — |
| Total liabilities | $29.0M | $28.4M | $30.7M | $20.8M | $6.9M | $1.6M | — | — |
| Retained earnings | -$449.0M | -$387.3M | -$248.8M | -$131.6M | -$49.7M | -$8.2M | — | — |
| Total equity | $29.6M | $51.6M | $169.2M | $108.5M | $178.8M | $5.2M | -$21.0K | -$263.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$70.4M | -$119.9M | -$96.6M | -$62.4M | -$35.4M | -$4.5M | -$1.3M | — |
| Depreciation and amortisation | $1.4M | $1.7M | $1.5M | $691.0K | $249.0K | $8.0K | $0 | — |
| Stock-based compensation | $9.5M | $19.1M | $14.1M | $10.3M | $6.2M | $322.0K | — | — |
| Capital expenditure | — | $362.0K | $3.4M | $1.0M | $3.2M | $51.0K | — | — |
| Investing cash flow | — | -$362.0K | -$2.2M | $27.3M | -$33.4M | -$51.0K | — | — |
| Financing cash flow | $67.9M | $1.7M | $163.8M | $1.2M | $153.2M | $66.0M | $1.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-121825.
Others in SIC 2834
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| AKTX | Akari Therapeutics Plc | $1.79T | — | — |
| LLY | ELI LILLY & Co | $1.08T | 50.1x | 44.7% |
| JNJ | JOHNSON & JOHNSON | $663.28B | 25.0x | 6.0% |
| ONC | BeOne Medicines Ltd. | $529.55B | 1,885.6x | 40.2% |
| ABBV | AbbVie Inc. | $453.19B | 108.7x | 8.6% |
| MRK | Merck & Co., Inc. | $370.89B | 20.6x | 1.3% |
| ABT | ABBOTT LABORATORIES | $188.69B | 29.1x | 5.7% |
| PFE | PFIZER INC | $162.16B | 20.9x | -1.6% |