What's Driving Biomea Fusion Shares Higher Today?

Biomea Fusion Inc BMEA shares are trading higher Tuesday after the company announced data from the initial cohorts of the ongoing Phase II study of BMF-219 in patients with type 2 diabetes.

"Our goal with BMF-219 is to deliver the first disease-modifying treatment for patients with diabetes by addressing the root biological cause of the disease and its inevitable progression: the loss of insulin-producing beta cells. Today, we are seeing indications that we are achieving that goal and that BMF-219 may indeed be capable of regenerating, preserving, and reactivating healthy, functional beta cells," said Thomas Butler, chairman and CEO of Biomea Fusion.

89% of patients achieved a reduction in A1c. 78% of them saw at least a 0.5% reduction and 56% achieved at least a 1% reduction. Biomea said continued glycemic control was present in initial observations during follow up visits.

The company now plans to explore longer-duration dosing periods as well as potential clinical utility in other diabetic populations.

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BMEA Price Action: Biomea shares were up 50.6% at $23.21 at the time of writing, according to Benzinga Pro.

Photo: felixioncool from Pixabay.