Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Phase 2 · ActiveModality: oral covalent small molecule
Target menin
Indications
Type 2 diabetes(Phase 2)
Type 1 diabetes(Phase 2)
Obesity(Stage not disclosed)
Catalysts
— Q4 2026
Status note Lead program; oral covalent menin inhibitor. COVALENT-112 T1D topline reported Apr 2026; only the two T2D Phase 2 trials (COVALENT-211/212) listed as ongoing as of Jun 30, 2026. Oncology exploration explicitly discontinued; obesity impact under investigation (preclinical).
BMF-650
Phase 1 · ActiveModality: oral small molecule
Target GLP-1 receptor
Indications
Obesity(Phase 1)
Catalysts
— Q3 2026
Status note Next-generation oral GLP-1 receptor agonist; IND cleared Sep 2025; Phase I GLP-131 trial ongoing.
BMF-500
Stage not disclosed · ActiveModality: covalent small molecule
Target FLT3
Indications
Oncology (indication not stated)(Stage not disclosed)
Status note Covalent FLT3 inhibitor. Internal oncology work deprioritized (icovamenib oncology studies discontinued); company plans to explore partnerships to advance BMF-500 while concentrating internal resources on metabolic disorders.
Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (4 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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