Biomea Fusion Reports Full Year 2025 Financial Results and Corporate Highlights

Initiated two Phase II trials in type 2 diabetes, completed 52-week follow-up from Phase II trial in type 1 diabetes, and advanced oral GLP-1 agonist into Phase I for obesity

Mar. 25, 2026 at 5:18am

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Biomea Fusion, a clinical-stage diabetes and obesity company, reported its financial results for the full year ended December 31, 2025, and provided a business update. The company highlighted key milestones, including initiating two Phase II trials for its lead asset icovamenib in type 2 diabetes, completing 52-week follow-up from a Phase II trial in type 1 diabetes, and advancing its next-generation oral GLP-1 agonist BMF-650 into a Phase I study for obesity. Biomea also reported a net loss of $61.8 million for 2025 and a cash runway into the first quarter of 2027.

Why it matters

Biomea's progress in advancing its diabetes and obesity pipeline demonstrates its commitment to developing transformative treatments for metabolic disorders, which are a major global health challenge. The company's focus on restoring beta cell function with icovamenib and exploring a novel oral GLP-1 agonist for obesity could lead to important new treatment options for patients.

The details

Biomea reported positive 52-week follow-up data from its Phase II COVALENT-111 study of icovamenib in type 2 diabetes, showing durable and clinically meaningful reductions in HbA1c that persisted nine months after a 12-week treatment course. The company also completed a food-effect study for icovamenib and initiated two new Phase II trials in type 2 diabetes. Additionally, Biomea completed the 52-week follow-up from its Phase II COVALENT-112 study in type 1 diabetes, with data expected in Q2 2026. On the obesity front, Biomea advanced its next-generation oral GLP-1 agonist BMF-650 into a Phase I study, with initial 28-day weight reduction data anticipated in Q2 2026.

  • Biomea reported 52-week follow-up data from the Phase II COVALENT-111 study in type 2 diabetes.
  • Biomea completed the COVALENT-121 food-effect study for icovamenib.
  • Biomea completed the 52-week follow-up from the Phase II COVALENT-112 study in type 1 diabetes, with data expected in Q2 2026.
  • Biomea initiated two Phase II studies evaluating icovamenib in type 2 diabetes, with topline data anticipated in Q4 2026.
  • Biomea initiated the Phase I GLP-131 study evaluating BMF-650 in obesity, with initial 28-day data expected in Q2 2026.

The players

Biomea Fusion, Inc.

A clinical-stage diabetes and obesity medicines company focused on the development of its oral small molecule therapies, icovamenib and BMF-650.

Mick Hitchcock, Ph.D.

Interim Chief Executive Officer and Board Member of Biomea Fusion.

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What they’re saying

“The past year was a year of execution for Biomea as we advanced from validating the menin pathway in primarily preclinical experiments to now generating durable, clinical data in patients with type 2 diabetes with our lead asset, icovamenib.”

— Mick Hitchcock, Ph.D., Interim Chief Executive Officer and Board Member

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

Biomea's progress in advancing its diabetes and obesity pipeline demonstrates its commitment to developing transformative treatments for metabolic disorders, which are a major global health challenge. The company's focus on restoring beta cell function with icovamenib and exploring a novel oral GLP-1 agonist for obesity could lead to important new treatment options for patients.