Bicara Therapeutics Announces Pricing of Upsized Initial Public Offering
September 12 2024 - 8:15PM
Bicara Therapeutics Inc. (Nasdaq: BCAX), a clinical-stage
biopharmaceutical company committed to bringing transformative
bifunctional therapies to patients with solid tumors, today
announced the pricing of its initial public offering of 17,500,000
shares of its common stock at a public offering price of $18.00 per
share. Bicara Therapeutics’ shares are expected to begin trading on
the Nasdaq Global Market on September 13, 2024 under the ticker
symbol “BCAX.” The offering is expected to close on September 16,
2024, subject to the satisfaction of customary closing conditions.
In addition, Bicara Therapeutics has granted the underwriters a
30-day option to purchase up to an additional 2,625,000 shares of
its common stock at the public offering price, less underwriting
discounts and commissions. All of the shares of common stock are
being offered by Bicara Therapeutics.
Morgan Stanley, TD Cowen, Cantor and Stifel are acting as joint
bookrunners for the offering.
The gross proceeds to Bicara Therapeutics from the initial
public offering, before deducting underwriting discounts and
commissions and other offering expenses payable by Bicara
Therapeutics, are expected to be approximately $315.00 million,
excluding any exercise of the underwriters’ option to purchase
additional shares of common stock.
A registration statement relating to the shares sold in the
initial public offering has been filed with the Securities and
Exchange Commission and was declared effective on September 12,
2024. The offering is being made only by means of a prospectus. A
copy of the final prospectus, when available, may be obtained from:
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014, by telephone at (866)
718-1649, or by email at prospectus@morganstanley.com; TD
Securities (USA) LLC, 1 Vanderbilt Avenue, New York, New York
10017, by telephone at (855) 495-9846, or by email at
TD.ECM_Prospectus@tdsecurities.com; Cantor Fitzgerald & Co.,
Attention: Capital Markets, 110 East 59th Street,
6th Floor, New York, New York 10022 or by email at
prospectus@cantor.com; or Stifel, Nicolaus & Company,
Incorporated, Attention: Prospectus Department, One Montgomery
Street, Suite 3700, San Francisco, CA 94104 by telephone at (415)
364-2720 or by email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Bicara Therapeutics
Bicara Therapeutics is a clinical-stage biopharmaceutical
company committed to bringing transformative bifunctional therapies
to patients with solid tumors. Bicara’s lead asset, ficerafusp
alfa, is a bifunctional antibody that combines two clinically
validated targets, an epidermal growth factor receptor (EGFR)
directed monoclonal antibody with a domain that binds to human
transforming growth factor beta (TGF-β). Through this
dual-targeting mechanism, ficerafusp alfa has the potential to
exert potent anti-tumor activity by simultaneously blocking both
cancer cell-intrinsic EGFR survival and proliferation, as well as
the immunosuppressive TGF-β signaling within the tumor
microenvironment. Ficerafusp alfa is initially being developed in
head and neck squamous cell carcinoma, where there remains a
significant unmet need.
Cautionary Note Regarding Forward-Looking
Statements
This press release includes certain disclosures that contain
“forward-looking statements,” including, without limitation,
statements regarding Bicara Therapeutics’ expectations regarding
the commencement of trading of its shares on the Nasdaq Global
Market, the completion and timing of the closing of the offering
and the anticipated gross proceeds from the offering.
Forward-looking statements are based on Bicara Therapeutics’
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Factors that
could cause actual results to differ include, but are not limited
to, risks and uncertainties related to the satisfaction of
customary closing conditions and the completion of the offering,
and the risks inherent in biopharmaceutical product development and
clinical trials. These and other risks and uncertainties are
described more fully in the section titled “Risk Factors” section
of the registration statement filed with the Securities and
Exchange Commission. Forward-looking statements contained in this
announcement are made as of this date, and Bicara Therapeutics
undertakes no duty to update such information except as required
under applicable law. Readers should not rely upon the information
on this page as current or accurate after its publication date.
Contacts
InvestorsRachel Frankir@bicara.com
MediaDan Budwick1ABdan@1abmedia.com
Bicara Therapeutics (NASDAQ:BCAX)
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