Bicara Therapeutics Inc. (BCAX)
NASDAQ:BCAX
Want to see BCAX full AI Analyst Report?
Top Page
Bicara Therapeutics Inc.
(NASDAQ:BCAX)
Select Model
Select Model
Rating:60Neutral
Price Target:
$21.50
▼(-10.45% Downside)
Action:Reiterated
Date:05/22/26
The score is anchored by strong earnings-call momentum and a solid balance sheet/cash runway, but is held back by pre-revenue fundamentals with widening losses and heavy cash burn, plus weaker near-term technical momentum and limited valuation anchors given negative earnings and no dividend.
Positive Factors
Balance sheet & runway
A large cash balance and explicit runway into H1 2029 materially reduce near-term financing pressure, allowing Bicara to complete pivotal FORTIFI‑HN01 enrollment, initiate the alternative dosing study and fund prelaunch investments without immediate dilution, improving execution optionality.
Negative Factors
Pre-revenue with widening losses
Remaining pre-revenue with materially larger TTM losses means the firm must rely on capital markets, partnerships or milestone payments to progress. Sustained negative earnings reduce flexibility and increase dilution or reprioritization risk if pivotal or ASCO readouts disappoint.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet & runway
A large cash balance and explicit runway into H1 2029 materially reduce near-term financing pressure, allowing Bicara to complete pivotal FORTIFI‑HN01 enrollment, initiate the alternative dosing study and fund prelaunch investments without immediate dilution, improving execution optionality.
Read all positive factors
Bicara Therapeutics Inc. (BCAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.34B
Dividend YieldN/A
Average Volume (3M)515.37K
Price to Earnings (P/E)―
Beta (1Y)1.49
Revenue GrowthN/A
EPS Growth-63.41%
CountryUS
Employees55
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.78
Shares Outstanding65,703,865
10 Day Avg. Volume627,168
30 Day Avg. Volume515,369
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)2.29
Price to Sales (P/S)0.00
P/FCF Ratio-8.59
Enterprise Value/Market Cap0.61
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-4.83
Forecast
1Y Price Target
$30.99Price Target Upside29.08% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)-3.41
Revenue Forecast (FY)N/A
Bicara Therapeutics Inc. Business Overview & Revenue Model
Company Description
Bicara Therapeutics Inc., a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed ...
How the Company Makes Money
null...
Bicara Therapeutics Inc. Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call conveyed strong positive clinical momentum for ficera (deep, durable responses, peer-reviewed publication, planned pivotal interim in mid-2027 and upcoming 3‑year ASCO data), meaningful commercial and organizational build-out, and a bolstered balance sheet providing runway into H1 2029. Offsetting risks include rising operating expenses, limited size/maturity of some cohorts, regulatory/design considerations for the alternative dosing study, and competitive/expansion challenges in tough indications like CRC. On balance, the highlights — notably compelling clinical efficacy signals and secured funding — substantially outweigh the lowlights, but key open milestones (ASCO updates, interim analysis, alternative dosing readout) remain important near‑term catalysts and risks.Positive Updates
Strong Clinical Efficacy Signals in Phase Ib Expansion
Phase Ib expansion (approx. 90 patients across 3 cohorts) showed deep, durable responses. The 1,500 mg weekly + pembrolizumab cohort has median duration of response of 21.7 months and median overall survival of 21.3 months — described as more than doubling overall survival versus standard-of-care pembrolizumab in HPV-negative patients (>100% improvement).
Negative Updates
Rising Operating Expenses
Total operating expenses for Q1 2026 increased versus Q1 2025 due to clinical operations, manufacturing and development costs for the pivotal FORTIFI-HN01 study and increased personnel-related costs (including stock-based compensation). Management expects continued expense increases through 2026 as clinical and early commercial investments ramp.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Clinical Efficacy Signals in Phase Ib Expansion
Phase Ib expansion (approx. 90 patients across 3 cohorts) showed deep, durable responses. The 1,500 mg weekly + pembrolizumab cohort has median duration of response of 21.7 months and median overall survival of 21.3 months — described as more than doubling overall survival versus standard-of-care pembrolizumab in HPV-negative patients (>100% improvement).
Read all positive updates
Company Guidance
Management reiterated clear near‑term milestones and metrics: they expect substantial enrollment in the FORTIFI‑HN01 Phase III by year‑end with an interim analysis targeted mid‑2027 for potential accelerated approval (ORR with ≥6 months durability and qualitative OS), will initiate an alternative dosing study in Q3 2026 enrolling ~150–200 patients (12‑week 1,500 mg weekly lead‑in then randomize to continue 1,500 mg weekly or switch to 2,250 mg every 3 weeks; primary endpoint PFS), and will present updated Phase Ib data at ASCO from ~90 patients across three cohorts (1,500 mg weekly with ~3‑year follow‑up, 750 mg weekly and 2,000 mg every‑other‑week with ~12–18 months follow‑up) including a median DOR of 21.7 months and median OS of 21.3 months for the 1,500 mg cohort, >80% of patients achieving ≥80% tumor depth in early data, and translational evidence of TGF‑β inhibition; commercially they cited a head‑and‑neck market >$5B into the 2030s with ~50,000 annual incident patients globally (~18,000 U.S.), and financially closed Q1 with $539.8M cash (including $161.8M net from a February offering) providing runway into H1 2029.Bicara Therapeutics Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -169.60M | -155.60M | -82.33M | -39.87M | -37.72M |
| Net Income | -157.31M | -137.95M | -68.00M | -51.98M | -37.84M |
Balance Sheet | |||||
| Total Assets | 553.60M | 430.99M | 569.20M | 233.98M | 6.70M |
| Cash, Cash Equivalents and Short-Term Investments | 539.75M | 414.80M | 489.71M | 230.44M | 4.16M |
| Total Debt | 1.44M | 1.71M | 738.00K | 657.00K | 0.00 |
| Total Liabilities | 39.64M | 29.54M | 77.32M | 15.47M | 23.98M |
| Stockholders Equity | 513.96M | 401.45M | 491.88M | 218.51M | -17.28M |
Cash Flow | |||||
| Free Cash Flow | -116.58M | -107.11M | -74.82M | -46.21M | -32.27M |
| Operating Cash Flow | -116.24M | -106.83M | -74.75M | -45.63M | -32.08M |
| Investing Cash Flow | -217.51M | -318.45M | -9.00K | -586.00K | -192.00K |
| Financing Cash Flow | 195.15M | 32.26M | 334.03M | 272.50M | 31.70M |
Bicara Therapeutics Inc. Risk Analysis
Bicara Therapeutics Inc. disclosed 83 risk factors in its most recent earnings report. Bicara Therapeutics Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
our existing business, could have a material adverse effect on our operating results, dilute our stockholders' ownership, increase our debt or cause us to incur significant expense. Q1, 2026
Bicara Therapeutics Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $863.24M | 1.28 | 129.32% | ― | 2889.93% | ― | |
60 Neutral | $1.34B | ― | -35.89% | ― | ― | -63.41% | |
52 Neutral | $2.49B | ― | -43.94% | ― | 39.04% | 29.88% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $308.11M | ― | -35.74% | ― | 146.03% | -0.87% | |
49 Neutral | $1.23B | ― | -167.71% | ― | -100.00% | -128.73% | |
48 Neutral | $457.67M | -3.01 | -43.82% | ― | ― | ― |
* Healthcare Sector Average
BCAX
Bicara Therapeutics Inc.
20.84
5.18
33.08%
ABUS
Arbutus Biopharma
4.44
1.22
37.89%
BCYC
Bicycle Therapeutics
4.45
-3.65
-45.06%
RLAY
Relay Therapeutics
13.66
10.82
380.99%
ZBIO
Zenas BioPharma, Inc.
19.84
8.39
73.28%
UPB
Upstream Bio, Inc.
8.46
-0.85
-9.13%
Bicara Therapeutics Inc. Corporate Events
Business Operations and Strategy
Bicara Highlights Durable Three-Year Data for Ficerafusp Alfa
Positive
May 21, 2026
On May 21, 2026, Bicara Therapeutics reported three-year follow-up data from a Phase 1/1b study of ficerafusp alfa plus pembrolizumab in first-line recurrent/metastatic HPV-negative head and neck squamous cell carcinoma, showing deep, durable resp...
Business Operations and StrategyPrivate Placements and Financing
Bicara Therapeutics Strengthens Finances with Equity Offering
Positive
Feb 26, 2026
On February 24, 2026, Bicara Therapeutics entered an underwriting agreement with a syndicate led by Morgan Stanley, TD Securities and BofA Securities to sell 7,175,000 common shares and pre-funded warrants for 2,200,000 additional shares at public...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.