Braveheart Bio, Inc. (BRVE) SEC Filings

Braveheart Bio, Inc. (BRVE) reported its first full half-year as a clinical-stage public-ready company, focused on lead cardiac myosin inhibitor BHB-1893 for hypertrophic cardiomyopathy. For the six months ended June 30, 2026, it generated no revenue and recorded a net loss of $29.3 million, driven by $22.0 million in research and development and $8.9 million in general and administrative expenses as Phase 3 preparation ramped up.

As of June 30, 2026, Braveheart held $122.8 million in cash and cash equivalents and total assets of $127.0 million, with liabilities of $9.3 million; operations have been funded primarily through redeemable convertible preferred stock. A subsequent August 7, 2026 IPO raised approximately $404.5 million in net proceeds at $18.00 per share, and management states that existing cash plus IPO proceeds should fund projected operating and capital needs into 2029 as it advances BHB-1893 through global Phase 3 trials in obstructive and non-obstructive HCM.

Braveheart Bio, Inc. (BRVE) reported unaudited results for the quarter ended June 30, 2026 and outlined progress on its lead cardiac myosin inhibitor BHB-1893. The company ended the quarter with $122.8 million in cash and cash equivalents, which, together with $404.5 million in net IPO proceeds received in August, would have brought cash to about $527.3 million on an as-adjusted basis. Management estimates this cash runway will fund operations into 2029.

R&D expenses rose to $11.1 million from virtually zero a year earlier, and G&A expenses increased to $4.8 million, leading to a quarterly net loss of $15.0 million and net loss attributable to common stockholders of $18.6 million, or $2.51 per share. The company has initiated the global Phase 3 LIONHEART-HCM trial in obstructive HCM and plans to start the NOBLEHEART-HCM Phase 3 trial in non-obstructive HCM in the first half of 2027, following encouraging Phase 2 data in both settings.

Braveheart Bio, Inc. (BRVE) is the subject of a Schedule 13D reporting a significant ownership position by investment entities affiliated with OrbiMed. OrbiMed Advisors LLC, together with OrbiMed Capital GP IX LLC and OrbiMed Genesis GP LLC, reports beneficial ownership of 12,175,159 Braveheart common shares, representing 17.2% of the 70,652,838 shares outstanding as referenced in a Form S-1 amendment.

The stake is largely held through OrbiMed Private Investments IX, LP (11,901,826 shares, about 16.9%), with an additional 273,333 shares held by OrbiMed Genesis Master Fund, L.P. These positions arose from purchases of common and Series A preferred stock in 2025 and from buying Braveheart shares in the IPO at $18.00 per share, with all preferred and pre-IPO common converting into common at a 1-for-4.38 ratio upon the IPO. OrbiMed describes the holdings as investment positions, not intended to acquire control on behalf of advisory clients, but it retains flexibility to buy or sell shares over time.

OrbiMed-affiliated funds have registration rights under an Investors' Rights Agreement, including demand, piggyback, and Form S-3 rights (for offerings with anticipated net proceeds of at least $5 million), subject to timing and frequency limits and expiring no later than the third anniversary of the IPO. OPI IX and director Erez Chimovits are also subject to a 180-day IPO lock-up restricting sales and hedging transactions. OrbiMed Advisors, as managing member of the general partners for the OrbiMed funds, shares voting and dispositive power and may be able to influence Braveheart through Chimovits' board seat.

Braveheart Bio, Inc. director Vineeta Agarwala reported initial ownership on a Form 3. The filing shows 10,232,420 shares of Common Stock held indirectly through AH Bio Fund IV, L.P., which also acts as nominee for several affiliated funds. AH Equity Partners Bio IV, L.L.C. is the general partner of AH Bio Fund IV and has sole voting and dispositive power over these securities. Agarwala is a member of AH Equity Partners Bio IV but disclaims beneficial ownership of the securities held by AH Bio Fund IV, except to the extent of any pecuniary interest.

Braveheart Bio, Inc. has a new large shareholder disclosure from Andreessen Horowitz–affiliated funds and principals. AH Bio Fund IV, L.P. and related entities beneficially own 10,232,420 shares of common stock, representing 11.4% of outstanding shares immediately after the IPO. The stake arose from the conversion of 40,000,000 Series A preferred shares purchased for $40 million, which converted at a 4.38‑for‑1 ratio into 9,132,420 common shares at IPO closing on August 7, 2026, plus an additional 1,100,000 common shares bought in the IPO at $18.00 per share for $19.8 million.

AH Equity Partners Bio IV, L.L.C. is the general partner and holds sole voting and dispositive power over the fund’s shares, while Marc Andreessen and Benjamin Horowitz may be deemed to share voting and dispositive power through their roles as managing members. The investors acquired the position for investment purposes and may increase or decrease their holdings, subject to a 180‑day lock‑up and an Investors’ Rights Agreement that provides demand, shelf (Form S‑3), and piggyback registration rights for sizable future resales.

Frazier Life Sciences investment entities report beneficial ownership in Braveheart Bio, Inc. common stock. Frazier Life Sciences Public Fund, L.P. directly holds 4,976,457 shares, representing 5.5% of the common stock based on 90,038,969 shares anticipated to be outstanding after the company’s initial public offering described in an August 6, 2026 prospectus. Related Frazier Life Sciences funds collectively hold smaller positions of 20,361 and 110,554 shares through separate Delaware limited partnerships and LLCs, each with shared voting and dispositive power and no sole voting or dispositive power reported.

Braveheart Bio, Inc. reported that investment entities associated with AH Bio Fund IV converted preferred shares and purchased additional common stock. On August 7, 2026, 40,000,000 shares of Series A Preferred Stock automatically converted into 9,132,420 shares of Common Stock immediately prior to the closing of the company’s initial public offering, on a 4.38-for-1 basis for no additional consideration. The preferred shares, which had no expiration date, are now fully converted.

On the same date, AH Bio Fund IV, L.P., for itself and as nominee for several related funds, purchased 1,100,000 shares of Common Stock at $18.00 per share, reported as indirectly owned. AH Equity Partners Bio IV, L.L.C. is the general partner of AH Bio Fund IV and has sole voting and dispositive power over these securities. Marc Andreessen and Ben Horowitz are managing members of AH Equity Partners Bio IV and may be deemed to share voting and dispositive power, but each reporting person disclaims beneficial ownership of the securities beyond any pecuniary interest.

Braveheart Bio, Inc. director and greater-than-10% owner Erez Chimovits, through OrbiMed-affiliated entities, reported several indirect transactions on August 7, 2026 tied to the company’s initial public offering. 40,000,000 shares of Series A Preferred Stock automatically converted into 9,132,420 shares of Common Stock on a one-for-4.38 basis upon the IPO closing, without payment of consideration, eliminating the reported Series A Preferred position. In the same IPO, OrbiMed-related funds indirectly purchased an additional 1,666,667 and 273,333 shares of Common Stock at $18.00 per share. The securities are held of record by OrbiMed Private Investments IX, LP and OrbiMed Genesis Master Fund, L.P., with OrbiMed entities exercising voting and investment power, and all parties, including the reporting person, disclaiming beneficial ownership beyond any pecuniary interest.

Braveheart Bio, Inc. received updated ownership reporting from OrbiMed-affiliated entities in connection with its initial public offering on August 7, 2026. 40,000,000 shares of Series A Preferred Stock automatically converted, on a one-for-4.38 basis and without additional consideration, into 9,132,420 shares of common stock. OrbiMed-related funds also purchased 1,666,667 and 273,333 common shares at $18.00 per share in the IPO. The securities are held indirectly through OrbiMed Private Investments IX, LP and OrbiMed Genesis Master Fund, L.P., with OrbiMed Advisors LLC and its affiliated general partners deemed to have voting and investment power and all reporting persons disclaiming beneficial ownership beyond their pecuniary interest.