SCHEDULE: Cormorant Funds Update Biomea Fusion Stake Post-Offering

Cormorant Asset Management and affiliates updated their beneficial ownership in Biomea Fusion, Inc. to 5.31% following a recent public offering.

Summary

• This is Amendment No. 3 to the Schedule 13D for Biomea Fusion, Inc., updating previous filings from April 30, 2021, April 3, 2023, and July 22, 2025.
• The reporting persons include Cormorant Global Healthcare Master Fund, LP, Cormorant Global Healthcare GP, LLC, Cormorant Private Healthcare Fund III, LP, Cormorant Private Healthcare GP III, LLC, Cormorant Asset Management, LP, and Bihua Chen.
• Cormorant Asset Management, LP beneficially owns 3,570,872 shares, representing 5.15% of Biomea Fusion's common stock.
• Bihua Chen, a director of the Issuer, beneficially owns 3,681,664 shares, which includes 110,792 shares from exercisable stock options, representing 5.31% of the common stock.
• The beneficial ownership percentages are calculated based on 69,322,377 shares of common stock expected to be outstanding following the closing of a public offering.
• The public offering was described in a Prospectus filed by the Issuer on October 7, 2025, and was expected to close on October 8, 2025, as reported in a Form 8-K.
• The reporting persons did not engage in any transactions in Biomea Fusion securities during the sixty-day period prior to this filing.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of updated beneficial ownership following a public offering. The continued significant stake by a major institutional investor and a director is mildly positive, indicating ongoing confidence, but the filing itself doesn't contain new positive or negative operational news.

Positives

• Cormorant Asset Management and its affiliates maintain a significant beneficial ownership stake, indicating continued institutional interest in Biomea Fusion.
• Bihua Chen, a director, holds a substantial beneficial ownership, including exercisable stock options, aligning her interests with those of other shareholders.

Future Outlook

The filing indicates that a public offering was expected to close on October 8, 2025, which would result in 69,322,377 shares of common stock outstanding.

Industry Context

This filing reflects an institutional investor's updated stake in a biotechnology company following a capital raise. Such disclosures are common in the biotech sector, where companies frequently raise capital through public offerings to fund research and development. The continued significant ownership by Cormorant Asset Management suggests their ongoing belief in Biomea Fusion's long-term prospects within the competitive healthcare investment landscape.

Stakeholder Impact

• Shareholders: The public offering likely resulted in dilution for existing shareholders, but also provided capital to the company. The continued significant ownership by Cormorant and a director may signal confidence.
• Company: The capital raise from the public offering provides funding for operations and strategic initiatives.

Key Dates

Recommendation

This filing is a routine update of beneficial ownership following a public offering. It does not contain new operational or financial performance data that would warrant a change in investment thesis. The continued significant stake by Cormorant Asset Management and a director suggests ongoing institutional confidence, but without further information on the company's performance or strategic direction, a 'hold' recommendation is appropriate for existing investors. New investors would need to evaluate the company's fundamentals beyond this ownership disclosure.

Keywords

Biomea Fusion, Cormorant Asset Management, Schedule 13D, Beneficial Ownership, Public Offering, Biotechnology, Healthcare Investment, Institutional Investor, Bihua Chen