Braveheart Bio priced an upsized IPO, raising $382.5 million gross, to advance its oral cardiac myosin inhibitor BHB-1893 through Phase 3 programs in hypertrophic cardiomyopathy. The company is targeting obstructive and non-obstructive populations, with global Phase 3 plans and timing expected into late 2026 and 2027. Tarsus’s involvement with BHB-1893 via the Hengrui-licensed asset framework underscores how China-linked late-stage cardiology programs continue to find US capital pathways. Investors are also parsing the competitive landscape against existing cardiac myosin inhibitors for obstructive disease, while watching whether non-obstructive data can broaden the category. The IPO reinforces that 2026 listings remain highly sensitive to mechanism differentiation and clear Phase 3 readout paths.