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BlossomHill Therapeutics Reports Second Quarter 2026 Financial Results

BLSM
  • BlossomHill Therapeutics completed an upsized initial public offering in August 2026, generating $168.3 million in gross proceeds to strengthen its balance sheet.
  • The FDA granted Fast Track designation to BH-30643 for treating advanced EGFR C797S-positive non-small cell lung cancer (NSCLC) following prior third-generation EGFR TKI treatment.
  • Preliminary data from the SOLARA Phase 1/2 trial for BH-30643 showed a 45% objective response rate and 88% disease control rate in patients with C797S resistance.
  • The company presented preclinical data for BH-501284, a pseudo-irreversible pan-KRAS inhibitor, at the AACR 2026 annual meeting, highlighting sustained target engagement.
  • Initial clinical data for BH-30236, a macrocyclic CLK inhibitor, demonstrated safety and early anti-leukemic activity in relapsed or refractory acute myeloid leukemia at the EHA 2026 Congress.
  • BlossomHill expanded its Board of Directors by appointing Sheila Gujrathi, M.D., and John Schmid.
  • Research and development expenses for the second quarter of 2026 were $21.4 million, while general and administrative expenses were $3.3 million.
  • The company reported a net loss of $23.8 million for the second quarter of 2026, or $8.75 per share.
  • Cash and cash equivalents totaled $95.4 million as of June 30, 2026, with combined funds from cash reserves and IPO proceeds expected to fund operations into the second quarter of 2028.
  • Upcoming milestones include an end-of-phase 1 meeting for BH-30643 in Q4 2026 and anticipated first patient dosing for a pivotal Phase 2 trial in Q1 2027.
  • An Investigational New Drug submission for BH-501284 is scheduled for Q1 2027.
  • Updated Phase 1 data for BH-30236 regarding safety and anti-leukemic effects is expected in the first half of 2027.