U.S. FDA places hold on Biomea's diabetes trials

Signage is seen outside of FDA headquarters in White Oak, Maryland

(Reuters) - Biomea Fusion said on Thursday the U.S. Food and Drug Administration had placed a clinical hold on its ongoing mid stage studies of its experimental drug for type 1 and 2 diabetes, sending its shares down 55.7% in extended trade. (This story has been corrected to change 'trial' to 'trials' in the headline and 'study' to 'studies' in paragraph 1)

(Reporting by Puyaan Singh in Bengaluru)