Bicara Therapeutics Inc., a Boston-based clinical-stage biopharmaceutical company, announced on Friday its plans to raise approximately $200 million through an initial public offering (IPO). The company, founded in 2020, is focusing on advancing bifunctional antibodies to treat solid tumors, particularly head and neck squamous cell carcinoma.
IPO Details and Plans
According to its filing with the U.S. Securities and Exchange Commission (SEC), Bicara plans to offer 11.77 million shares at a price range of $16 to $18 per share. This pricing would allow the company to raise just over $200 million at the midpoint. If underwriters exercise their option to buy additional shares at full price, net proceeds could increase to $209.9 million. Ropes & Gray LLP is advising the IPO underwriters, while Goodwin Procter LLP is representing Bicara.
Bicara Therapeutics $200M IPO : Use of Funds
Bicara intends to use the bulk of the IPO proceeds to advance its lead product, ficerafusp alfa, a Phase 1 drug designed to treat head and neck squamous cell carcinoma. A portion of the funds will also go toward expanding the drug’s development to other solid tumors and patient populations. Remaining funds will be allocated to working capital and other corporate needs.
