Biomea Fusion, Inc. Reports Inducement Grant Under Nasdaq Listing Rule 5635(C)(4)

( MENAFN - GlobeNewsWire - Nasdaq) REDWOOD CITY, Calif., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc.

(Nasdaq: BMEA) (“Biomea” or the“Company”), a clinical stage biopharmaceutical company focused on the discovery and development of oral covalent small molecules to treat and improve the lives of patients with diabetes, obesity, and genetically defined cancers, today announced that on November 1, 2024, the compensation committee of Biomea's board of directors granted one new employee non-qualified stock options to purchase an aggregate of 6,500 shares of the Company's common stock. The shares underlying the employee's stock options will vest 1/16 on a quarterly basis over four years, subject to the employee's continued employment with the Company on such vesting dates. The above-described award was made under Biomea's 2023 Inducement Equity Plan (the“Plan”).

The above-described award was granted as an inducement material to the employee entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and was granted pursuant to the terms of the Plan. The Plan was adopted by Biomea's board of directors on November 17, 2023. About Biomea Fusion Biomea Fusion is a clinical-stage biopharmaceutical company focused on the discovery and development of oral covalent small molecules to improve the lives of patients with diabetes, obesity, and genetically defined cancers.

A covalent small molecule is a synthetic compound that forms a perman.