Braveheart Bio, a California-based biotechnology company focused on cardiovascular therapies, is set to debut on the public market with an initial public offering expected to raise $382.5 million. The company announced on Aug. 6 that it will offer 21.2 million shares at $18 each, exceeding its previous projections of a $15 to $17 price range for 17.5 million shares.
The shares will be traded under the ticker symbol “BRVE” on the Nasdaq exchange. Braveheart plans to use the proceeds from its IPO to advance its lead asset, BHB-1893, an oral small molecule designed to inhibit cardiac myosin—a protein responsible for heart contractions. The therapy is being developed for subtypes of hypertrophic cardiomyopathy (HCM), and Braveheart is preparing for late-stage clinical testing.
In a July prospectus, Braveheart said it intends to position BHB-1893 as “a new standard of care” in HCM, competing with Bristol Myers Squibb’s Camzyos and Cytokinetics’ Myqorzo. Camzyos is approved for symptomatic patients with obstructive HCM and generated more than $1 billion last year after growing 77% annually; Myqorzo was approved in December 2025 for the same indication.
BHB-1893 was licensed from Jiangsu Hengrui Pharmaceuticals in China under a deal worth up to $1.1 billion. The drug aims to suppress excessive heart muscle contractions and potentially address what Braveheart calls the “LVEF cost”—a decrease in left ventricular ejection fraction seen with current HCM therapies.
The funds raised through the IPO are intended to support Phase 3 development of BHB-1893 in both obstructive and non-obstructive forms of hypertrophic cardiomyopathy.
Braveheart joins several other biotech companies entering public markets this year after a slowdown throughout most of 2025. So far this year, twenty-one biotechs have launched IPOs, including five debuts within the past two months.
