secwatch.observer — SEC 8-K summary
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Issuer:     Bicara Therapeutics Inc. (BCAX)
CIK:        0002023658
Form:       8-K
Filed at:   2026-03-30T23:59:59+00:00
Accession:  0001628280-26-021868
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2023658/000162828026021868/0001628280-26-021868-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2023658/000162828026021868/bcax-20260330.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-021868

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