Bicara Therapeutics (BCAX Proposed), a clinical biotech focused on head and neck squamous cell cancer, increased the size of its IPO to $250 million – up from $200 million initially – in an S-1/A filing after the closing bell on Wednesday, Sept. 11, 2024. The new terms calls for Bicera Therapeutics to offer 14.71 million shares – up from 11.77 million shares initially – at the same price range of $16.00 to $18.00 – to raise $250.0 million, if priced at the $17.00 mid-point of its range. That represents a 25 percent increase in size from the original terms, which called for Bicara Therapeutics to raise $200.0 million. The market cap for Bicara Therapeutics is now $832.44 million.
Morgan Stanley, TD Cowen, Cantor and Stifel are the joint book-runners.
Bicara Therapeutics’ IPO is expected to price Thursday night, Sept. 12, 2024, to trade Friday, Sept. 13, 2024, on the NASDAQ.
Boston-based Bicara Therapeutics says its ongoing Phase 1/1b trial of its leading drug candidate, ficerafusp alfa, in combination with pembrolizumab, in head and neck squamous cell cancer patients in the U.S. achieved a 54 percent overall response rate (ORR) – and in patients not associated with HPV, the ORR was 64 percent, according to the prospectus.
The cancer biotech plans to launch a Phase 2/Phase 3 clinical trial of its leading drug candidate, ficerafusp alfa, in combination with pembrolizumab (the generic name for Merck’s cancer drug Keytruda) to treat recurrent or metastatic head and neck squamous cell cancer. Bicara Therapeutics expects to start the Phase 2/Phase 3 clinical trial either late in the fourth quarter or during the first quarter of 2025, the prospectus said.
Bicara Therapeutics is not profitable – typical for a biotech at the time that it goes public. Bicara reported a net loss of $64.9 million on no product revenue for the 12 months that ended June 30, 2024.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions or anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.