Bicara Therapeutics Closes $362M IPO, Including Full Underwriters' Option

BOSTON, Sept. 16, 2024 – Bicara Therapeutics Inc. (Nasdaq: BCAX), a biopharmaceutical firm focused on innovative bifunctional therapies for solid tumor patients, has successfully closed its initial public offering. The company offered 20,125,000 shares of common stock at $18.00 per share, a total that includes 2,625,000 shares from the full exercise of the underwriters' option to purchase additional shares. Trading of Bicara Therapeutics' shares commenced on the Nasdaq Global Market on September 13, 2024, under the ticker symbol “BCAX.” The entire stock offering was sold by Bicara Therapeutics.

The joint bookrunners for this offering were Morgan Stanley, TD Cowen, Cantor, and Stifel. Bicara Therapeutics garnered gross proceeds of approximately $362 million from the offering, accounting for the full exercise of the underwriters' option, prior to the deduction of underwriting discounts, commissions, and other offering expenses.

A registration statement for the shares sold in this initial public offering was filed with the Securities and Exchange Commission and became effective on September 12, 2024. The shares were offered via a prospectus.

Bicara Therapeutics is dedicated to advancing bifunctional therapies for solid tumors. The company's leading product, ficerafusp alfa, is a bifunctional antibody that targets two clinically validated mechanisms. It combines an epidermal growth factor receptor (EGFR)-directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-β). This dual approach aims to deliver robust anti-tumor effects by inhibiting both the EGFR survival pathway in cancer cells and the immunosuppressive TGF-β signaling within the tumor microenvironment. Ficerafusp alfa is initially being developed to treat head and neck squamous cell carcinoma, addressing a significant unmet medical need in this area.