Biomea on Tuesday announced positive topline results from its Phase 2 COVALENT-111 trial evaluating icovamenib in patients with type 2 diabetes, with key takeaways including icovamenib displaying a statistically significant placebo-adjusted mean HbA1c reduction of 0.36% in the pre-specified per-protocol patient population and reduction of 0.42% after 12 weeks of treatments, H.C. Wainwright tells investors. Topline COVALENT-111 results validate the potential of icovamenib for long-term glycemic control with short-term treatment duration, the firm says. H.C. Wainwright made no change to its Buy rating or $40 price target
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