Braveheart Bio has emerged on the Nasdaq with an upsized expected initial public offering—marking the public entrance of the twenty-second biotech this year.
Cardiovascular-focused Braveheart Bio is pumping further life into biotech’s public market, debuting Thursday with an upsized offering expected to be worth $382.5 million.
The California company’s IPO encompasses 21.2 million shares expected to be traded on the Nasdaq at $18 apiece, according to a release shared Wednesday afternoon. The offering tops Braveheart’s previous projections of a $15 to $17 price point for 17.5 million shares.
Trading under the ticker “BRVE,” the biotech will use its newfound cash to fuel lead asset BHB-1893, an oral small molecule designed to inhibit cardiac myosin, which is a protein that drives heart contractions. The company is developing the therapy for subtypes of hypertrophic cardiomyopathy (HCM) and is gearing up for late-stage testing.
In a July prospectus, Braveheart shared its intention to position BHB-1893 as “a new standard of care” in HCM, challenging Bristol Myers Squibb’s Camzyos and Cytokinetics’ Myqorzo.
Camzyos, indicated for symptomatic patients with obstructive HCM (oHCM), grew 77% annually to bring in more than $1 billion last year, while Myqorzo was approved for the same indication in December 2025. The inherited disease causes thickening of the heart muscles and can include shortness of breath, chest pain and fainting.
Licensed from China’s Jiangsu Hengrui Pharmaceuticals for up to $1.1 billion, Braveheart’s BHB-1893 is supposed to suppress excessive heart muscle contractions. The biotech hopes the asset can address the “LVEF cost” of current HCM therapies: a decrease in left ventricular ejection fraction (LVEF), or a decline in pump function that can accompany improvements in obstruction.
The IPO proceeds will help Braveheart push BHB-1893 through Phase 3 development in both oHCM and non-obstructive HCM.
Braveheart joins a slew of other biotechs making the public plunge this year as companies take advantage of a window that was frozen shut for most of 2025. Twenty-one other biotechs have IPOed so far this year, with five debuts occurring in the last two months.
In July alone, preclinical gene-editor Scribe Therapeutics, Dupixent-challenger Attovia Therapeutics and oral sleeping pill developer Apnimed all emerged publicly.
Check out BioSpace’s tracker to see how recently-IPOed biotechs are performing now.
