Jefferies initiated coverage of Biomea Fusion (BMEA) with a Buy rating and $5 price target Biomea is a clinical-stage biotech focused on developing oral small molecule for diabetes and obesity medicines, the analyst tells investors in a research note. The firm says the company’s lead asset icovamenib is being studied in both type 2 and type 1 diabetes with Phase 2 data updates coming in the second half of 2025. The drug has a mechanism of action that could “fundamentally address a root driver of diabetes,” contends Jefferies.
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