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On June 23, 2023, Biomea Fusion presented data for its Type 2 diabetes drug candidate BMF-219 at a meeting of the American Diabetes Association. In response to the presentation, market analysts downgraded Biomea Fusion and its stock price fell $6.25 per share, from $30.67 per share on June 23, 2023 to close at $24.42 per share on June 26, 2023.