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 has given his Buy rating due to a combination of factors related to Bicara Therapeutics Inc.’s promising developments in their drug pipeline. The company is set to present significant data from their Phase 1b trial of ficerafusp alfa in combination with Keytruda for HPV-negative head and neck cancer patients. This data is crucial as it will help determine if the lower dose of 750mg maintains similar efficacy to the higher 1500mg dose, which is important for the ongoing pivotal Phase 2/3 trial.
Another reason for the Buy rating is the potential of ficerafusp alfa to achieve full EGFR saturation at the 750mg dose, which could provide a competitive edge over existing treatments. Prior data has shown promising efficacy results, with an objective response rate of 54% in HPV-negative patients at the higher dose. The upcoming data presentation is expected to provide further insights into the drug’s efficacy and safety profile, thereby supporting the positive outlook for Bicara Therapeutics.