Braveheart Bio Raises $382.5 Million in Upsized Nasdaq IPO

Braveheart Bio Inc. raised $382.5 million in an upsized initial public offering, pricing 21.3 million shares at $18 each. This final price exceeded the original marketed range of $15 to $17 and resulted in a market valuation of $1.27 billion.

Founded in 2024, the San Francisco-based clinical-stage biopharmaceutical company focuses on developing BHB-1893 to treat hypertrophic cardiomyopathy. The company is backed by several healthcare investors, including Forbion, OrbiMed, Patient Square Capital, and Andreessen Horowitz. Following the listing, Forbion's stake is expected to be 22%, OrbiMed's 12%, and Andreessen Horowitz's 11%.

Financial reports for the first quarter of 2026 show the company generated approximately $11 million in revenue and recorded a net loss of $14.3 million. Braveheart Bio is scheduled to begin trading on the Nasdaq Global Market under the symbol BRVE on Thursday, August 7, 2026.