Braveheart Bio, Inc.
For the period ended Sep 30, 2026. Filed Nov 10, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 10, 2026
BRVE$19.62+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows (unaudited)
(in thousands)
| Nine Months EndedSeptember 30, 2026 | Nine Months EndedSeptember 30, 2025 | |
|---|---|---|
| Cash flows from operating activities: | ||
| Net loss | $(55,763) | $(59,598) |
| Adjustments to reconcile net loss to net cash used in operations: | ||
| Acquired in-process research and development | — | 59,218 |
| Depreciation and amortization | 8 | — |
| Stock-based compensation | 5,636 | — |
| Stock-based compensation – liability-classified awards | 6,145 | — |
| Accretion of discounts on available-for-sale securities | (496) | — |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (10,155) | (11) |
| Other long-term assets | (28) | — |
| Accounts payable | 1,063 | 73 |
| Accrued expenses (includes related party amounts of $(1,841) and $156, respectively) | 7,116 | (422) |
| Operating lease right-of-use asset and lease liabilities | (35) | — |
| Net cash used in operating activities | (46,509) | (740) |
| Cash flows from investing activities: | ||
| Cash paid for purchased in-process research and development (includes related party amounts of $3,000 and $32,734, respectively) | (3,000) | (32,734) |
| Purchase of property and equipment | (28) | — |
| Purchase of marketable securities | (382,450) | — |
| Net cash used in investing activities | (385,478) | (32,734) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of founders' and restricted common stock | — | 6 |
| Proceeds from issuance of Series A redeemable convertible preferred stock, net of issuance costs | 59,581 | 101,000 |
| Proceeds from issuance of common stock, net of commissions and underwriting discounts | 409,083 | — |
| Payments of offering costs | (4,539) | — |
| Repurchase of equity awards | (8) | — |
| Net cash provided by financing activities | 464,117 | 101,006 |
| Net increase in cash and cash equivalents for the period | 32,130 | 67,532 |
| Cash and cash equivalents at beginning of the period | 89,161 | — |
| Cash and cash equivalents at end of the period | $121,291 | $67,532 |
| Supplemental disclosure of cash flow information: | ||
| Non-cash investing and financing activities: | ||
| Right-of-use assets obtained in connection with operating lease obligations | $795 | $— |
| Issuance of Series A redeemable convertible preferred stock in exchange for in-process research and development, related party | $— | $25,675 |
| Issuance costs in accrued expenses | $— | $267 |
| Non-cash deemed dividends on Series A redeemable convertible preferred stock | $3,615 | $— |
|---|---|---|
| Conversion of convertible preferred stock to common stock upon initial public offering | $213,520 | $— |
| Offering costs in accounts payable and accrued liabilities | $133 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.