Operating losses remain persistent, with the most recent 2026Q1 loss of $12.8 million highlighting the ongoing challenge of managing costs in the absence of any revenue generation.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 593K | 1.41M | 0 | 0 | 0 | 0 | 132K | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - |
| Gross Profit | -593K | -1.41M | 0 | 0 | 0 | 0 | -132K | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | 100% | - | - |
| Operating Expenses | 65.98M | 79.9M | 144.07M | 126.14M | 83.63M | 41.67M | 5.2M | 1.2M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 16.12M | 19.33M | 25.98M | 23.59M | 20.92M | 13.67M | 1.52M | 103K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - |
| Research & Development | 48.2M | 61.98M | 118.08M | 102.55M | 62.71M | 28M | 3.67M | 1.09M |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 453K | -1.41M | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -66.57M | -81.31M | -144.07M | -126.14M | -83.63M | -41.67M | -5.33M | -1.2M |
| Operating Margin % | - | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 43.56% | -14.22% | -50.82% | -100.72% | -682.19% | -345.77% | - |
| EBITDA | -65.55M | -79.9M | -142.32M | -124.62M | -82.94M | -41.42M | -5.2M | -1.2M |
| EBITDA Margin % | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 49.93% | 43.86% | -14.2% | -50.25% | -100.26% | -697.27% | -333.64% | - |
| D&A (Non-Cash Add-back) | 1.02M | 1.41M | 1.75M | 1.51M | 691K | 249K | 132K | 0 |
| EBIT | -63.83M | -81.31M | -144.07M | -126.14M | -83.63M | -41.67M | -5.32M | -1.2M |
| Net Interest Income | 1.84M | 1.86M | 5.64M | 8.88M | 1.81M | 100K | 0 | 0 |
| Interest Income | 1.84M | 1.86M | 5.64M | 8.88M | 1.81M | 100K | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 21.62M | 19.51M | 5.64M | 8.88M | 1.81M | 100K | 3K | -3K |
| Pretax Income | -44.95M | -61.8M | -138.43M | -117.25M | -81.83M | -41.57M | -5.32M | -1.2M |
| Pretax Margin % | - | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -44.95M | -61.8M | -138.43M | -117.25M | -81.83M | -41.57M | -5.32M | -1.2M |
| Net Margin % | - | - | - | - | - | - | - | - |
| Net Income Growth % | 65.05% | 55.36% | -18.06% | -43.29% | -96.86% | -680.75% | -344.41% | - |
| Net Income (Continuing) | -44.95M | -61.8M | -138.43M | -117.25M | -81.83M | -41.57M | -5.32M | -1.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.62 | -1.18 | -3.83 | -3.44 | -2.80 | -1.74 | -0.50 | -0.11 |
| EPS Growth % | 75.04% | 69.19% | -11.34% | -22.86% | -60.92% | -248% | -354.55% | - |
| EPS (Basic) | - | -1.18 | -3.83 | -3.44 | -2.80 | -1.74 | -0.50 | -0.11 |
| Diluted Shares Outstanding | 72.3M | 52.23M | 36.11M | 34.11M | 29.27M | 23.86M | 10.71M | 10.71M |
| Basic Shares Outstanding | 72.3M | 52.23M | 36.11M | 34.11M | 29.27M | 23.86M | 10.71M | 10.71M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Clinical trial funding dependency
As reported in recent financial filings, Biomea Fusion's R&D expenditure peaked at $33.8 million in 2024Q1 before moderating to $9.1 million by 2026Q1, reflecting a significant shift in clinical trial activity and the company's ongoing efforts to manage its limited capital resources effectively.
The reduction in R&D spending appears to correlate with the completion of specific trial phases or the impact of the clinical hold on the COVALENT-111 program. Investors should monitor whether this lower spending level represents a sustainable efficiency gain or a forced deferral of critical development milestones due to capital constraints.
Based on the company's historical income statements, operating losses have consistently exceeded $10 million per quarter, with the most recent 2026Q1 loss of $12.8 million highlighting the persistent challenge of maintaining a lean cost structure while advancing a complex, covalent small-molecule clinical pipeline.
The lack of revenue generation means that operating leverage is currently non-existent, as every dollar spent on SG&A and R&D flows directly to the bottom line as a loss. The company's ability to scale operations without a proportional increase in overhead will be a critical test of management's discipline as they approach potential late-stage trials.
According to the 2025Q4 income statement, the company reported a net income of $4.6 million, a figure that appears to be an anomaly driven by non-operating items rather than a fundamental improvement in the underlying business model or the achievement of commercial revenue milestones.
This positive net income result warrants further investigation, as it stands in stark contrast to the consistent quarterly losses observed in all other periods. Analysts should treat this as a non-recurring event and focus on the core operating burn rate to assess the true financial health of the organization.
With reported cash and equivalents of $55.8 million, the company faces a precarious financial position, as the historical quarterly burn rate suggests that current liquidity may be insufficient to support the full duration of ongoing clinical trials without a dilutive equity raise.
The reliance on external financing to fund operations creates a significant risk of shareholder dilution, which could weigh on the stock price regardless of clinical progress. Investors should consider the possibility that the company may be forced to seek a strategic partnership on unfavorable terms to extend its operational runway.
Quick answers to the most common questions about buying BMEA stock.
For fiscal year 2025, Biomea Fusion, Inc. (BMEA) reported total revenue of $0.0M.
Biomea Fusion, Inc. (BMEA) reported a net loss of $61.8M for the fiscal year ending 2025.