BlossomHill (BLSM) 10% Owner Bihua Chen Buys $5M Stock

What Happened

• Bihua (Bihua) Chen, a 10% owner through Cormorant-related funds, made an open-market purchase of 312,500 BlossomHill Therapeutics (BLSM) shares on 2026-08-10 at $16.00 per share for a total of $5,000,000.
• The filing also reports conversions of preferred stock into common stock that resulted in the issuance of 1,599,993 shares and 1,701,541 shares (totaling 3,301,534 shares) on or about the IPO, and a grant/award of 23,904 derivative shares at $0.00 on 2026-08-06. The purchase is a cash purchase (P); conversions are non‑cash events (C) and the award is coded A.

Key Details

• Transaction dates and prices:
  • 2026-08-10: Open-market purchase — 312,500 shares @ $16.00 = $5,000,000.
  • 2026-08-10: Conversions recorded — 1,599,993 shares (Series A conversion) and 1,701,541 shares (Series B conversion); no cash price (automatic conversion per footnotes).
  • 2026-08-06: Grant/award — 23,904 shares @ $0.00 (derivative award).
• Shares owned after transaction: aggregate beneficial ownership across Master Fund, Fund III, Fund V and Fund VI is reported as approximately 3,614,034 shares (see footnote F8). Footnote F6 lists 3,301,534 shares (pre-purchase aggregation); the 312,500 share purchase increases the Master Fund balance by 312,500 to reach the F8 total.
• Notable footnotes:
  • F2: Series A and B preferred stock automatically converted into common stock upon the issuer’s IPO (no cash).
  • F1/F5: Breakdowns of the 1,599,993 and 1,701,541 share conversions across specific funds.
  • F4: Chen is manager of the Cormorant entities and disclaims direct beneficial ownership except for pecuniary interest.
  • F9: The 23,904 award vests 1/36 monthly over three years beginning Aug 6, 2026.
• Filing timeliness: Form filed 2026-08-10 for transactions dated 2026-08-06 and 2026-08-10. Section 16 filings are generally due within 2 business days of a transaction; the Aug 6 item appears reported several days later and may be untimely for that specific event.

Context

• The $5.0M open-market purchase is a direct cash purchase by the Master Fund (a bullish signal in the sense of buying shares), while the large ~3.30M-share items are automatic conversions of preferred stock into common stock tied to the IPO (non-cash).
• Chen’s reporting is through investment funds (Cormorant entities). As a 10% owner via those funds, these transactions reflect institutional fund activity and conversion mechanics rather than a simple executive buy/sell.