Biomea Climbs on Diabetes Drug Data
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 March 2023
⏱️ 11 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning, today is Wednesday, March 29th, and I'm your host, Julie Morgan. |
| 0:12.0 | Biomea Fusion skyrockets after releasing data for its type 2 diabetes candidate. |
| 0:18.0 | BMEA was up nearly 100% Tuesday. |
| 0:22.0 | Today is stock of the week Wednesday, |
| 0:24.0 | and we're hearing from Brad Thomas with Irit on Alpha. |
| 0:28.0 | His pick of 2023 is, |
| 0:30.0 | It would be Vichy properties. |
| 0:32.0 | Vichy has been having an incredible run a familiar face returns to UBS |
| 0:38.0 | Sergio or Mahdi will take over next month our top story. Biomea Fusion closed Tuesday up nearly 100%. This |
| 0:47.9 | happening after it announced phase two data for a possible diabetes medication. |
| 0:53.0 | The company announced that 89% of type 2 diabetes patients, |
| 0:57.3 | in its phase 2 trial for lead asset BMF-219, |
| 1:01.4 | indicated a decline in blood glucose levels after four weeks of therapy. |
| 1:06.4 | The readout was from the company's Covalent 111 program for BMF-219, which consists of |
| 1:12.2 | Phase 1 and phase 2 portions. |
| 1:15.0 | While phase 1 aimed at healthy subjects is already completed, |
| 1:19.0 | phase 2 is currently underway for adult patients |
| 1:22.0 | with type 2 diabetes uncontrolled by current therapies. |
| 1:26.1 | Biomea said that all subjects completed the four-week treatment with no dose reductions |
| 1:31.6 | or serious or severe adverse events. |
| 1:34.7 | The company intends to study additional dosing periods longer than four weeks |
... |
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