Blossomhill’s $150M IPO to fund macrocyclic cancer drug pipeline

Cancer-focused biotech Blossomhill Therapeutics Inc. priced a $150 million IPO, with proceeds funding next-generation macrocyclic inhibitors against oncology targets, including EGFR-mutant non-small-cell lung cancer. As with most biopharma IPOs of late, San Diego-based Blossomhill upsized the offering from its previous plans, from 7.8 million shares to 9.4 million, though pricing came in at the low end of the $16-to-$18 per share range.