The pre-revenue cardiovascular biotech opened at $30.20 versus an $18 offer price, valuing it above $2 billion as investors backed Phase 3 plans for its lone HCM drug candidate.
Braveheart Bio jumped 68% at the open of its Nasdaq debut on August 6, 2026, with shares trading at $30.20 after the clinical-stage biopharmaceutical company priced 21.25 million shares at $18 to raise $382.5 million. The pre-revenue company, now valued at roughly $2.13 billion to $2.2 billion, is built around BHB-1893, an oral cardiac myosin inhibitor licensed from Jiangsu Hengrui Pharmaceuticals for obstructive and non-obstructive hypertrophic cardiomyopathy. IPO proceeds are earmarked for global Phase 3 trials, with obstructive HCM expected to start in late 2026 and non-obstructive studies in early 2027. The offering, led by Goldman Sachs and Jefferies, priced above a marketed $15 to $17 range and underscored renewed demand for biotech listings, though the first-day surge also raised questions about how much value was left on the table.