Bicara Therapeutics Q3 net loss $17.5M; cash $520.8M; pivotal HNSCC trial on track

Bicara Therapeutics Inc.

2024-Q3 EPS reported -$11.27

Cash and cash equivalents $520.8M as of Sep 30, 2024, funding operations into H1 2029.
Net loss of $17.5M for Q3 2024 vs $22.8M in Q3 2023 (prior year included $13.3M non-cash charge).
IPO in Sep 2024 raised ~$362M gross from 20.125M shares at $18.00; listed on Nasdaq as BCAX.
Pivotal Phase 2/3 trial FORTIFI-HN01 of ficerafusp alfa in 1L R/M HNSCC expected to start late Q4 2024 or early Q1 2025.
Phase 1/1b data showed 64% ORR, 18% CR, median PFS 9.8 months in frontline HPV-negative R/M HNSCC.

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