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Bicara Therapeutics Inc.
BCAXCIK 0002023658NasdaqEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-137.95M
Total Assets
$430.99M
Equity
$401.45M
Shares Out
65.47M
Op. Cash Flow
$-106.83M
Business
Bicara Therapeutics Inc. is a clinical-stage biopharmaceutical company developing bifunctional therapies that target tumors and deliver tumor‑modulating payloads to the tumor microenvironment. Its main product candidate is ficerafusp alfa, a bifunctional EGFR-directed antibody fused to a TGF‑β trap, being developed to block EGFR signaling and neutralize immunosuppressive TGF‑β in solid tumors. The company’s operations center on research and development, clinical trials, and outsourced manufacturing and supply collaborations, with strategic partnerships for clinical development and licensing. Bicara conducts clinical programs and trials in the U.S., Canada and intends global development and third‑party distribution channels.
Summary from filing dated 2025-03-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| General and administrative | 31 | 19 | 9 | |
| Total operating expenses | 156 | 82 | 40 | |
| Loss from operations | −156 | −82 | −40 | |
| Interest income | 18 | 15 | 1 | |
| Total other income, net | 18 | 15 | −12 | |
| Net loss before income taxes | −138 | −68 | −52 | |
| Income tax expense | −217,000 | −187,000 | — | |
| Net loss | −138 | −68 | −52 | |
| Net Loss per share, basic (in usd per share) | −2.52 | −4.05 | −89.61 | |
| Net Loss per share, diluted (in usd per share) | −2.52 | −4.05 | −89.61 | |
| Weighted-average number common shares outstanding, basic (in shares) | 54,677 | 16,806 | 580 | |
| Weighted-average number common shares outstanding, diluted (in shares) | 54,677 | 16,806 | 580 | |
| Unrealized gain on marketable securities, net of tax | 243,000 | 0 | — | |
| Total other comprehensive income | 243,000 | 0 | — | |
| Total comprehensive loss | −138 | −68 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 97 | 490 | 230 | — | |
| Prepaid expenses and other assets | 7 | 13 | 633,000 | — | |
| Marketable securities | 318 | 0 | — | — | |
| Total current assets | 422 | 503 | 231 | — | |
| Property and equipment, net | 330,000 | 155,000 | 202,000 | — | |
| Right of use asset operating lease | 2 | 690,000 | 613,000 | — | |
| Other assets | 7 | 7 | 2 | — | |
| Total assets | 431 | 510 | 234 | — | |
| Operating lease liability current portion | 1 | 607,000 | 285,000 | — | |
| Total current liabilities | 29 | 18 | 15 | — | |
| Operating lease liability net of current portion | 593,000 | 131,000 | 372,000 | — | |
| Total liabilities | 30 | 18 | 15 | — | |
| Commitments and Contingencies (Note 7) | — | — | — | — | |
| Preferred stock $0.0001 par value, 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | — | |
| Common stock, $0.0001 par value, 500,000,000 shares authorized; 56,600,724 and 54,444,180 shares issued and 56,600,724 and 54,440,013 shares outstanding as of December 31, 2025 and December 31, 2024, respectively | 7,000 | 7,000 | 2,000 | — | |
| Additional paid-in capital | 760 | 713 | 4 | — | |
| Accumulated other comprehensive gain | 243,000 | 0 | — | — | |
| Accumulated deficit | −359 | −221 | −153 | — | |
| Total stockholders' equity | 401 | 492 | −149 | −99 | |
| Total liabilities and stockholders equity | 431 | 510 | 234 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Stock-based compensation | 15 | 7 | 2 | |
| Depreciation | 105,000 | 56,000 | 19,000 | |
| Non-cash lease expense | 895,000 | −77,000 | 90,000 | |
| Net amortization of premiums and discounts on marketable securities | 301,000 | 0 | — | |
| Prepaid expenses and other assets | 5 | −17 | −914,000 | |
| Operating lease liabilities | −932,000 | 81,000 | −47,000 | |
| Net cash used in operating activities | −107 | −75 | −46 | |
| Purchases of marketable securities | −318 | 0 | — | |
| Purchase of property and equipment | −280,000 | −71,000 | −586,000 | |
| Proceeds from sale of property and equipment | 0 | 62,000 | 0 | |
| Net cash used in investing activities | −318 | −9,000 | −586,000 | |
| Proceeds from issuance on common stock, net of issuance costs | 29 | 332 | 0 | |
| Proceeds from exercise of options | 3 | 2 | 149,000 | |
| Net cash provided by financing activities | 32 | 334 | 272 | |
| Net increase (decrease) in cash and cash equivalents | −393 | 259 | 226 | |
| Right-of-use asset obtained in exchange for lease liability | 2 | 413,000 | 703,000 |
Filings
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