Bicara Therapeutics Inc., a clinical-stage biopharmaceutical company focusing on transformative bifunctional therapies for solid tumors, successfully closed its initial public offering (IPO) of 20,125,000 shares at $18.00 per share. The IPO includes full exercise of the underwriters’ option to purchase an additional 2,625,000 shares, resulting in gross proceeds of approximately $362 million. The company’s shares began trading on the Nasdaq Global Market under the symbol BCAX. The joint bookrunners for the offering were Morgan Stanley, TD Cowen, Cantor, and Stifel. The registration statement for the IPO was declared effective by the SEC on September 12, 2024. Bicara plans to utilize the funds for continuing the development of its lead asset, ficerafusp alfa, which targets head and neck squamous cell carcinoma. This dual-targeting mechanism exerts anti-tumor activity by blocking both EGFR survival and TGF- signaling.
Biopharmaceuticals, Financial Services,United States