BlossomHill reports $168.3 million IPO proceeds
- BlossomHill Therapeutics (NASDAQ:BLSM) reported second quarter 2026 results and pipeline updates.
- The company raised approximately $168.3 million from its upsized August 2026 IPO.
- Lead drug candidate BH-30643 received FDA Fast Track designation for EGFR C797S-positive NSCLC.
BlossomHill Therapeutics (NASDAQ:BLSM) reported second quarter 2026 financial results and pipeline progress, highlighting its strengthened cash position following an upsized initial public offering.
The company raised approximately $168.3 million in gross proceeds from its August 2026 IPO after ending June 30, 2026 with $95.4 million in cash and cash equivalents.
The U.S. Food and Drug Administration granted Fast Track designation to lead asset BH-30643 for advanced EGFR C797S-positive non-small cell lung cancer, while Phase 1 SOLARA data showed a 45% objective response rate and an 88% disease control rate in patients with C797S resistance to prior TKIs.
BlossomHill Therapeutics develops targeted cancer therapies, with its pipeline focused on treatments for patients with specific genetic mutations and resistance mechanisms.
The company reported second quarter research and development expenses of $21.4 million and general and administrative expenses of $3.3 million, resulting in a quarterly net loss of $23.8 million, or $(8.75) per share.
