04:47 AM EDT, 06/18/2025 (MT Newswires) -- (Updates to include stock price movement in the headline and the last paragraph.)

Biomea Fusion ( BMEA ) said late Tuesday it priced a public offering of about 19.5 million shares and accompanying warrants at a combined offering price of $2 each.

In lieu of common stock, certain investors will receive pre-funded warrants to purchase up to 550,000 shares, the company said.

Biomea will give the underwriters a 30-day option to buy up to 3 million additional shares and warrants.

The company expects to raise about $40 million in gross proceeds from the offering, which is anticipated to close Friday.

Biomea shares were down nearly 26% in recent premarket activity Wednesday.