Possible liver toxicity worries hamper Biomea's work in diabetes
Shares in Californian company Biomea Fusion (Nasdaq: BMEA) were down almost 60% ahead of the opening bell on Friday, after news of a regulatory setback.
The firm, which is working on a novel covalent menin inhibitor, BMF-219, has been told by the US Food and Drug Administration to pause its Phase I/II program.
The trials, known as COVALENT-111 and COVALENT-112, focus on treating type 2 and type 1 diabetes, respectively. The full clinical hold has been put in place due to concerns over potential drug-induced hepatotoxicity, following observations during the dose escalation phase.
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