Biomea Fusion tumbles on planned equity offering

Biomea Fusion's BMEA.O shares down 25% to $2.10 in extended trading as co seeks equity raise

Clinical-stage diabetes and obesity drug developer announces offering of stock-and-warrants; targeted raise not disclosed

Jefferies sole bookrunner for proposed offering

BMEA shares on Tues closed up 10.3% at $2.90, and have roughly doubled this month

Redwood City, California-based BMEA has ~37.6 mln shares outstanding as of Apr 29, per most recent SEC filing, giving it nearly $110 mln market cap

Of 9 analysts covering BMEA, recommendation breakdown is 7 "strong buy" or "buy" and 2 "hold" and median PT is $17, LSEG data reflects