05:19 PM EDT, 10/06/2025 (MT Newswires) -- Biomea Fusion ( BMEA ) said Monday that its investigational diabetes drug icovamenib showed sustained efficacy in a Phase 2 Covalent-111 study, with durable Hba1c reductions nine months after treatment ended.

In severe insulin-deficient type 2 diabetes patients, 12 weeks of treatment led to a 1.8% placebo-adjusted mean Hba1c reduction at Week 52. Patients on glucagon-like peptide-1 therapies, who failed to reach glycemic targets, also saw a 1.8% mean Hba1c reduction. The company said icovamenib was well tolerated across all dosing groups.

Biomea plans to start two Phase 2 trials in Q4 of 2025 targeting insulin-deficient and GLP-1-refractory patient populations.

Separately, the company said it began an underwritten public offering of common stock and warrants. Proceeds will support clinical development and general operations.

Biomea shares rose 24.2% Monday before falling 8.2% in after-hours trading. Intraday volume was about 4.2 million shares, compared with a daily average of roughly 747,000.