BlossomHill Therapeutics, Inc. (Nasdaq: BLSM) has released its financial results for the second quarter of 2026 and announced significant corporate milestones, including the completion of an upsized initial public offering (IPO). The company reported research and development (R&D) expenses of $21.4 million for the quarter ended June 30, 2026, compared to $12.5 million in the prior year period. This increase was attributed to greater clinical development expenses, costs for IND-enabling studies, and higher personnel and overhead costs. General and administrative (G&A) expenses for Q2 2026 were $3.3 million, up from $1.6 million in 2025, driven by increased legal and personnel-related expenses. Consequently, the company recorded a net loss of $23.8 million, or $(8.75) per share, for the quarter.
As of June 30, 2026, the company held $95.4 million in cash and cash equivalents. In August 2026, BlossomHill completed its IPO, selling 10,516,240 shares of common stock and raising approximately $168.3 million in gross proceeds. The company stated that its current cash balance, combined with the IPO proceeds, is sufficient to fund operations into the second quarter of 2028.
On the clinical front, BlossomHill announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to BH-30643, a macrocyclic OMNI-EGFR inhibitor, for the treatment of adult patients with advanced or metastatic EGFR C797S-positive non-small cell lung cancer (NSCLC) following prior treatment with third-generation EGFR tyrosine kinase inhibitors. Preliminary data presented at ASCO 2026 and the IASLC World Conference on Lung Cancer highlighted an objective response rate of 45% and a disease control rate of 88% in patients with C797S resistance to prior TKIs.
The company also presented preclinical data for BH-501284, a pseudo-irreversible pan-KRAS inhibitor, at the AACR 2026 annual meeting. Additionally, clinical data for BH-30236, a macrocyclic CLK inhibitor, was presented at the European Hematology Association (EHA) 2026 Congress. The FDA has granted orphan drug designation to BH-30236 for the treatment of acute myeloid leukemia (AML). BlossomHill anticipates an end-of-phase 1 meeting with the FDA regarding BH-30643 in the fourth quarter of 2026.
