Friday, the FDA lifted the clinical hold on Biomea Fusion, Inc.’s (NASDAQ:BMEA) ongoing Phase 1/2 clinical trials of the company’s investigational covalent menin inhibitor BMF-219 in type 2 and type 1 diabetes (COVALENT-111 and COVALENT-112),

Biomea Fusion (NASDAQ:BMEA) has received two analyst upgrades along with bullish comments from three other firms in the wake of Thursday’s news that the FDA has lifted a clinical hold on a Phase 1/2 study of its drug BMF-219 for the treatment of type 1 and type 2 diabetes.

The FDA placed a full clinical hold on two diabetes trials for Biomea’s menin inhibitor after reports of liver toxicity.