BLSM
BLSMCIK 0001839970
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BlossomHill Therapeutics prices IPO at $16.00/share, raising $150M gross; company nets $134.9M
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BLSM sets IPO terms: 7.8M shares at $15-$17, net proceeds ~$111.7M; cash runway to Q1 2028
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Latest financial statements
From 10-Q filed Sep 18, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations (Unaudited)
(in thousands, except share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Operating expenses: | ||||
| Research and development | 21,355 | 12,530 | 41,256 | 22,102 |
| General and administrative | 3,315 | 1,573 | 5,521 | 3,455 |
| Total operating expenses | 24,670 | 14,103 | 46,777 | 25,557 |
| Loss from operations | (24,670) | (14,103) | (46,777) | (25,557) |
| Other income (expense), net: | ||||
| Interest income, net | 915 | 859 | 2,017 | 1,835 |
| Other expense, net | (3) | - | (6) | - |
| Total other income, net | 912 | 859 | 2,011 | 1,835 |
| Net loss | (23,758) | (13,244) | (44,766) | (23,722) |
| Net loss per share, basic and diluted | (8.75) | (5.51) | (16.91) | (9.90) |
| Weighted average common shares outstanding, basic and diluted | 2,713,696 | 2,405,140 | 2,646,721 | 2,395,789 |
Condensed Balance Sheets (Unaudited)
(in thousands, except share and par value data)
| Description | June 30, 2026 (unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current Assets: | ||
| Cash and cash equivalents | 95,376 | 136,682 |
| Prepaid expenses and other current assets | 5,592 | 2,144 |
| Total current assets | 100,968 | 138,826 |
| Property and equipment, net | 1,489 | 1,726 |
| Operating lease right-of-use assets | 19,197 | 19,921 |
| Other assets | 2,477 | 2,495 |
| Total assets | 124,131 | 162,968 |
| Liabilities, convertible preferred stock and stockholders' deficit | ||
| Current liabilities: | ||
| Accounts payable | 3,930 | 2,314 |
| Accrued expenses | 9,194 | 8,431 |
| Accrued compensation | 3,539 | 4,730 |
| Other current liabilities | 809 | - |
| Operating lease liability, current | 1,149 | 5 |
| Total current liabilities | 18,621 | 15,480 |
| Operating lease liability, non-current | 22,222 | 22,393 |
| Other long-term liabilities | 1,245 | - |
| Total liabilities | 42,088 | 37,873 |
| Commitments and contingencies (Note 6) | ||
| Convertible preferred stock, $0.0001 par value; 85,552,612 shares authorized at June 30, 2026 and December 31, 2025; 18,258,960 shares issued and outstanding at June 30, 2026 and December 31, 2025; $257,153 aggregate liquidation preference at June 30, 2026 and December 31, 2025 | 256,823 | 256,823 |
| Stockholders' deficit: | ||
| Common stock, $0.0001 par value; 110,000,000 shares authorized at June 30, 2026 and December 31, 2025; 2,767,848 and 2,548,659 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. | 1 | 1 |
| Additional paid-in capital | 5,014 | 3,300 |
| Accumulated deficit | (179,795) | (135,029) |
| Total stockholders' deficit | (174,780) | (131,728) |
| Total liabilities, convertible preferred stock and stockholders' deficit | 124,131 | 162,968 |
Condensed Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | (44,766) | (23,722) |
| Adjustments to reconcile net loss to net cash used in operations | ||
| Depreciation expense | 250 | 187 |
| Non-cash lease expense | 724 | 482 |
| Stock-based compensation expense | 900 | 485 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other assets | (2,323) | 2,251 |
| Other assets | 18 | (1,484) |
| Accounts payable | 1,616 | (180) |
| Accrued expenses | (373) | 1,341 |
| Accrued compensation | (1,191) | 471 |
| Operating lease liabilities | 971 | 48 |
| Net cash used in operating activities | (44,174) | (20,121) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (13) | (997) |
| Net cash used in investing activities | (13) | (997) |
| Cash flows from financing activities: | ||
| Proceeds from the exercise of stock options | 2,881 | 85 |
| Net cash provided by financing activities | 2,881 | 85 |
| Net increase (decrease) in cash and cash equivalents | (41,306) | (21,033) |
| Cash and cash equivalents at the beginning of period | 136,682 | 100,147 |
| Cash and cash equivalents at the end of period | 95,376 | 79,114 |
| Supplemental disclosure of noncash activities: | ||
| Right-of-use asset obtained in exchange for operating lease liability | — | 20,927 |
| Deferred financing costs included in accounts payable and accrued expenses | 1,136 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share data); (in thousands, except share and par value data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗