BlossomHill Therapeutics prices IPO at $16.00 per share, raising $150 million

BlossomHill Therapeutics, a clinical-stage biopharmaceutical company, priced its initial public offering at $16.00 per share.¹ The company is offering 9,375,000 shares of common stock¹ and its common stock has been approved for listing on The Nasdaq Global Select Market under the symbol "BLSM."¹ The underwriters expect to deliver the shares to purchasers on or about August 10, 2026.¹

The company's lead program is BH-30643, an investigational, non-covalent, macrocyclic, brain active, mutant-selective OMNI-EGFR inhibitor for the treatment of epidermal growth factor receptor (EGFR)-mutant non-small cell lung cancer (NSCLC), and BH-30236, an investigational macrocyclic CDC-like kinase (CLK) inhibitor being evaluated first in relapsed or refractory acute myeloid leukemia (R/R AML) and higher-risk myelodysplastic syndromes (HR-MDS).¹ The company also has a preclinical pan-KRAS candidate, BH-501284, and is currently conducting IND-enabling studies of BH-501284 and plans to submit an IND in the first quarter of 2027.¹

On finances, for the years ended December 31, 2024 and 2025, net losses were approximately $30.7 million and $60.6 million, respectively.¹ For the three months ended March 31, 2025 and 2026, net losses were $10.5 million and $21.0 million, respectively.¹ As of March 31, 2026, the company had an accumulated deficit of approximately $156.0 million.¹

Net proceeds from the offering are estimated at approximately $134.9 million, or approximately $155.8 million if the underwriters exercise their option to purchase additional shares in full.¹ The company said it estimates existing cash and cash equivalents as of the date of the prospectus, together with estimated net proceeds from the offering, will be sufficient to fund projected operating expenses and capital expenditure requirements into the first quarter of 2028.¹