JHVEPhoto Shares of Biomea ( NASDAQ: BMEA ) plunged 62% in post-market trading Thursday on news that the FDA has placed a full clinical hold on Phase 1/2 clinical trials for the company’s drug candidate BMF-219 in the treatment of type 1 and type 2 diabetes. The hold affects Biomea’s Phase 1/2 study COVALENT-111 for type 2 diabetes and Phase 2 study COVALENT-112 for type 1 diabetes, according to the company. Biomea said the hold was imposed due to the level of possible drug-induced liver toxicity observed in the completed dose escalation phase of the COVALENT-111 study.
The company added that no serious adverse events have been reported in the COVALENT-111 and COVALENT-112 studies. More on Biomea Fusion Biomea Fusion drops as JPMorgan downgrades on data for lead asset Seeking Alpha’s Quant Rating on Biomea Fusion Historical earnings data for Biomea Fusion Financial information for Biomea Fusion.
