---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-021868"
form_type: "8-K"
ticker: "BCAX"
cik: "0002023658"
company_name: "Bicara Therapeutics Inc."
filed_at: "2026-03-30T23:59:59+00:00"
generated_at: "2026-05-15T08:28:02.292920+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Bicara reports FY2025 net loss $138M; cash $414.8M; raises $161.8M in public offering

## Summary
- Net loss Q4 2025 $37.4M, full year $138.0M vs $21.0M and $68.0M in 2024.
- R&D expenses $33.0M Q4, $125.1M full year; G&A $8.1M Q4, $30.5M full year.
- Cash & securities $414.8M at Dec 31, 2025; added $161.8M net from Q1 2026 offering; expected runway into H1 2029.
- Selected 1500mg weekly ficerafusp alfa for Phase 3; initiated FORTIFI-HN01 trial; interim analysis expected mid-2027.
- Developing a loading and every-three-week maintenance dose for potential U.S. approval.

## SEC filing metadata
- accession: 0001628280-26-021868
- form_type: 8-K
- ticker: BCAX
- cik: 0002023658
- company_name: Bicara Therapeutics Inc.
- filed_at: 2026-03-30T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2023658/000162828026021868/0001628280-26-021868-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2023658/000162828026021868/bcax-20260330.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-021868
- JSON: https://secwatch.observer/filing/0001628280-26-021868.json
- Plain text: https://secwatch.observer/filing/0001628280-26-021868.txt

## Key facts
- Earnings Releases
  Bicara Therapeutics Inc. reported the fourth quarter and full year ended December 31, 2025 results: net income Net loss totaled $37.4 million and $138.0 million for the fourth quarter and full year ended December 31, 2025, respecti.
  - Period: the fourth quarter and full year ended December 31, 2025
  - Net income: Net loss totaled $37.4 million and $138.0 million for the fourth quarter and full year ended December 31, 2025, respecti
  - Result: reported results
  source text: On March 30, 2026, Bicara Therapeutics Inc. (the "Company") issued a press release announcing its financial results and business highlights for the fiscal year and quarter ended December 31, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/2023658/000162828026021868/0001628280-26-021868-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.