BlossomHill Therapeutics, a Phase 2-ready biotech developing small molecule cancer therapies, announced terms for its IPO on Monday.
The San Diego, CA-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17. At the midpoint of the proposed range, BlossomHill Therapeutics would command a fully diluted market value of $478 million.
BlossomHill Therapeutics is focused on developing small molecule cancer drugs by identifying structural weaknesses in existing treatments and engineering new compounds to overcome them. Its lead program, BH-30643, is currently in a global Phase 1/2 trial for epidermal growth factor receptor (EGFR)-mutant non-small cell lung cancer (NSCLC). It plans to seek an end-of-Phase 1 meeting with the FDA in the 4Q26 to discuss recommended Phase 2 dosing and a potential accelerated approval pathway for certain patients. It has two other candidates: BH-30236, a CLK inhibitor currently being evaluated in an ongoing Phase 1 clinical trial in patients with relapsed or refractory acute myeloid leukemia and higher-risk myelodysplastic syndromes, and BH-501284, a preclinical pan-KRAS program.
BlossomHill Therapeutics was founded in 2020. It plans to list on the Nasdaq under the symbol BLSM. J.P. Morgan, Leerink Partners, Guggenheim Securities, LifeSci Capital, and H.C. Wainwright are the joint bookrunners on the deal. It is expected to price during the week of August 3, 2026.
