Braveheart Bio (BRVE.US) has set its IPO price at $15-17 per share, intending to raise $300 million to advance its global Phase III clinical trials for cardiovascular drugs.

Braveheart Bio, a biotechnology company in the preclinical phase of development focused on oral small molecule drugs for cardiovascular diseases, announced its initial public offering (IPO) terms on Thursday. This San Francisco-based company plans to offer 18.8 million shares at a price between $15 and $17 per share, raising approximately $300 million. Fidelity Investments has expressed its intention to subscribe for $75 million worth of shares in this offering, accounting for 25% of the total offering size. Based on the midpoint of the offering price, Braveheart Bio's fully diluted market capitalization will reach $1.4 billion. Braveheart Bio is a clinical-stage biopharmaceutical company focused on developing therapies for hypertrophic cardiomyopathy (HCM) and other cardiovascular diseases. Its core candidate drug, BHB-1893, is an oral small molecule myosin inhibitor, licensed from Jiangsu Hengrui Pharmaceuticals in September 2025, and is currently under development for two subtypes: obstructive hypertrophic cardiomyopathy (oHCM) and non-obstructive hypertrophic cardiomyopathy (nHCM). In the Phase II clinical trial conducted by Jiangsu Hengrui Pharmaceuticals, BHB-1893 demonstrated a rapid and significant reduction in left ventricular outflow tract pressure gradient (LVOT-G) in patients with oHCM, and also showed statistically significant improvements in cardiac biomarkers and diastolic function compared to placebo in patients with nHCM. The companys Phase III clinical strategy is based on the aforementioned data and combined with Jiangsu Hengrui Pharmaceuticals' ongoing Phase III trial of the same compound for oHCM in the Greater China region. Braveheart plans to independently initiate a global Phase III trial for oHCM (LIONHEART-HCM) in the second half of 2026, and commence the Phase III trial for nHCM (NOBLEHEART-HCM) in the first half of 2027. Founded in 2024, Braveheart Bio plans to list on NASDAQ under the ticker symbol "BRVE." Goldman Sachs, Jefferies, TD Cowen, Stifel, and Cantor Fitzgerald are acting as joint book-running managers for the offering. The pricing of the offering is expected to occur in the week of August 3, 2026.