India, Sept. 23 -- Biomea Fusion, Inc. (BMEA) announced that it has terminated its proposed public offering of securities, which was previously announced on September 22.
The company said it decided not to proceed with the offering after determining that current market conditions were not favorable and that completing the transaction would not be in the best interests of shareholders. No securities were sold in connection with the proposed offering.
BMEA has traded between $0.87 and $2.99 over the past year. The stock is currently trading at $1.40, down 17.35%.
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