Biomea Fusion shares fall 32.07% intraday after announcing a public offering of common stock and warrants.

Biomea Fusion, Inc. dropped 32.07% intraday, with the company announcing a public offering of shares of its common stock and accompanying warrants to purchase shares of its common stock. The company also reported new preclinical findings from a 28-day weight loss study in obese non-human primates evaluating BMF-650, the Company's investigational, next-generation oral small molecule glucagon-like peptide-1 receptor agonist (GLP-1 RA). The study demonstrated a clear, dose-dependent reduction in daily food intake and pronounced and continuous weight loss over a 28-day treatment period.