Biomea Fusion is trading $1.68 (+22.68%) following its August 24, 2026 announcement that enrollment was complete in the randomized Phase II COVALENT-211 trial of icovamenib for insulin-deficient type 2 diabetes.
- The study enrolled 64 participants across 18 sites.
- Topline Week 26 data are expected in the first quarter of 2027.
- The clinical-development milestone is the clearest company-specific catalyst identified for the move.