Analyst Soumit Roy of JonesTrading maintained a Buy rating on Bicara Therapeutics Inc., retaining the price target of $27.00.
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Soumit Roy’s rating is based on the promising data Bicara Therapeutics presented in their ESMO Asia abstract, which highlighted the efficacy and safety of their drug FICERA in combination with Keytruda. The data showed that FICERA, at both 750 mg and 1500 mg doses, maintained a comparable overall response rate, with the 750 mg dose achieving a 57% ORR. Although the complete response rate was lower at the 750 mg dose, the overall safety profile was similar, with a low discontinuation rate.
Additionally, the findings underscored FICERA’s differentiation from Merus’ petosemtamab, as FICERA maintained its efficacy at a lower dose, unlike petosemtamab, which showed reduced efficacy at a lower dose. The complete and prolonged neutralization of TGF-β1 further supports FICERA’s mechanism of action, and the upcoming oral presentation is expected to provide more insights into patient characteristics and safety outcomes, which are crucial for the ongoing pivotal phase 2/3 trial. These factors collectively contribute to the Buy rating for Bicara Therapeutics.