Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

Bicara Therapeutics / Equity Capital Markets

<ul>
<li>Bicara Therapeutics unveiled the terms of its IPO: a clinical-stage biotech company offers ~11.8M shares at the price range of $16.00-$18.00, implying a market cap of ~$800M at the midpoint.</li>
<li>Existing shareholders do not intend to sell shares in this offering and Bicara Therapeutics shares will list on the Nasdaq under the ticker symbol “BCAX”.</li>
<li>The biotech company is focused on patients with HPV-negative head and neck cancer, and I view Bicara's IPO valuation as attractive, with major catalysts coming up in 2025.</li>
</ul>


Bicara Therapeutics unveiled the terms of its IPO: a clinical-stage biotech company offers ~11.8M shares at the price range of $16.00-$18.00, implying a market cap of ~$800M at the midpoint.
Existing shareholders do not intend to sell shares in this offering and Bicara Therapeutics shares will list on the Nasdaq under the ticker symbol “BCAX”.
The biotech company is focused on patients with HPV-negative head and neck cancer, and I view Bicara's IPO valuation as attractive, with major catalysts coming up in 2025.


Key Updates on Bicara Therapeutics IPO: ~$800M Valuation at the Midpoint and Strong Balance Sheet

<ul>
<li>Bicara Therapeutics, a clinical-stage biotech company with focus on the treatment of patients with HPV-negative head and neck cancer, files for a $200M IPO.</li>
<li>The biotech firm was backed by Biocon Limited, India’s largest biopharmaceutical company, venture capital and investment firms, among others.  </li>
<li>I believe Bicara Therapeutics will succeed in its pivotal Phase 2/3 trial of their bifunctional antibody in combination with Keytruda (pembrolizumab) during 2025.</li>
</ul>


Bicara Therapeutics, a clinical-stage biotech company with focus on the treatment of patients with HPV-negative head and neck cancer, files for a $200M IPO.
The biotech firm was backed by Biocon Limited, India’s largest biopharmaceutical company, venture capital and investment firms, among others.  
I believe Bicara Therapeutics will succeed in its pivotal Phase 2/3 trial of their bifunctional antibody in combination with Keytruda (pembrolizumab) during 2025.


Bicara Therapeutics IPO: A Promising Combination with Merck’s Keytruda For Patients With HNSCC

Netherlands

Merus N.V. operates as a clinical-stage immuno-oncology company. The Company focuses on developing bispecific antibody therapeutics. Merus develops and manufactures therapeutics to treat and cure cancer patients.

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Merus NV (MRUS US)

Key Updates on Bicara Therapeutics IPO: ~$800M Valuation at the Midpoint and Strong Balance Sheet

Biocon-backed Bicara Therapeutics will go public this week. With top-tier backers, a promising lead program and strong balance sheet, I expect...

Andrei Zakharov

Bicara Therapeutics IPO: A Promising Combination with Merck’s Keytruda For Patients With HNSCC

Bicara Therapeutics, backed by Biocon Limited, files for a $200M IPO in the United States. Their bifunctional antibody in combination with...

Andrei Zakharov

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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Key Updates on Bicara Therapeutics IPO: ~$800M Valuation at the Midpoint and Strong Balance Sheet

Biocon-backed Bicara Therapeutics will go public this week. With top-tier backers, a promising lead program and strong balance sheet, I expect...

Andrei Zakharov

Bicara Therapeutics IPO: A Promising Combination with Merck’s Keytruda For Patients With HNSCC

​Bicara Therapeutics, backed by Biocon Limited, files for a $200M IPO in the United States. Their bifunctional antibody in combination with...

Andrei Zakharov

Bicara Therapeutics, backed by Biocon Limited, files for a $200M IPO in the United States. Their bifunctional antibody in combination with...