Bicara Therapeutics Inc. Common Stock
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Range $20 – $42
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About the company
Bicara Therapeutics Inc. , a biopharmaceutical firm in the clinical development phase, is headquartered in Boston, Massachusetts. Established in 2018, the company specializes in creating innovative, dual-action treatments specifically for solid tumors.
- CEO
- Claire Mazumdar Clemon
- IPO
- 2024
- Employees
- 103
- HQ
- Boston, MA, US
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- Market Cap
- $1.60B
- P/E
- -7.87
- Fwd P/E
- 37.52
- PEG
- 0.18
- P/S
- 0.00
- P/B
- 3.53
- EV/EBITDA
- -8.17
- Div Yield
- 0.00%
- Gross Margin
- 0.00%
- Op Margin
- 0.00%
- Net Margin
- 0.00%
- ROE
- -41.49%
- ROIC
- -42.98%
Latest fiscal year · YoY change
- Revenue
- $0+0.0%
- Gross Profit
- $0+0.0%
- Op Income
- $-155,604,000
- Net Income
- $-137,950,000-102.9%
- EPS
- $-2.52-101.6%
- OCF Growth
- -42.9%
- FCF Growth
- -43.2%
- 52W High
- $30.99
- 52W Low
- $10.29
- 50D MA
- $26.21
- 200D MA
- $20.47
- Beta
- -0.75
- RSI (14)
- 43
- Avg Volume
- 727.93K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Bicara used the quarter to announce a planned leadership handoff while reiterating strong momentum in its pivotal head and neck cancer program and a cash runway into the first half of 2029.· August 11, 2026
- Leadership transitions were announced: Claire Mazumdar will become Vice Chair and Strategic Adviser, Ryan Cohlhepp will become CEO, and Jenn Larson will become CFO effective tomorrow.
- FORTIFI-HN01 remains the core value driver, with the company saying it is on track for substantial enrollment by year-end and a mid-2027 interim analysis.
- Management highlighted ASCO 2026 data showing 3-year follow-up and said Ficera nearly doubled overall survival versus standard of care while maintaining a consistent safety profile.
- FORTIFI-FLEX has been initiated to support loading plus every-3-week maintenance dosing, with data expected in hand by the time of potential U.S. approval.
- Cash and marketable securities were approximately $497 million at quarter-end, which management said funds operations into the first half of 2029.
Bicara did not disclose revenue or EPS on the call. It said total operating expenses in the second quarter of 2026 increased versus the second quarter of 2025, driven by clinical operations and development costs for FORTIFI-HN01, including manufacturing and development spend, plus higher personnel-related costs and stock-based compensation. The company ended Q2 2026 with approximately $497 million in cash, cash equivalents and marketable securities, and management said that provides runway into the first half of 2029. For the rest of 2026, operating expenses are expected to rise quarter-over-quarter due to continued investment in clinical operations, technical operations, workforce growth, launch-readiness functions, and FORTIFI-FLEX. The company also said it expects to be substantially enrolled in FORTIFI-HN01 by year-end, enabling a top line interim analysis in mid-2027.
Claire Mazumdar framed the leadership changes as intentional succession planning from a position of strength, saying the company is nearing a top-line interim analysis and preparing for possible accelerated approval and launch. She emphasized that Bicara’s strategy remains grounded in the science behind Ficera and in building an enduring organization, not just a development-stage biotech. Her tone was reflective and confident, with repeated emphasis on continuity, culture, and readiness for commercialization.
Ivan Hyep said operating expenses increased year over year in Q2 due mainly to clinical operations and development expenses tied to FORTIFI-HN01, along with higher personnel costs and stock-based compensation as the workforce expanded. He guided to higher quarter-over-quarter operating expenses for the rest of the year because of continued clinical, technical operations, and headcount investment, plus launch-readiness spending in medical affairs and commercial infrastructure. He also cited approximately $497 million in cash, cash equivalents and marketable securities at quarter-end and said that supports runway into the first half of 2029, covering the pivotal study, regulatory filing support, initial commercial buildout, FORTIFI-FLEX, and manufacturing costs.
The main analyst focus was on how Bicara will manage FORTIFI-FLEX without disrupting FORTIFI-HN01 enrollment. Management said the FLEX footprint was designed to avoid interference, that only about 1/3 of sites overlap, and that enrollment will be staged across Europe, Latin America, Asia Pacific, and the U.S. to keep FORTIFI as the top priority. Analysts also pressed on the competitive head and neck landscape; management said they expect competitor readouts to be mostly ORR-focused and argued Bicara’s differentiation will come from durability, 6-month durability, and the broader data package, not just initial response rates. On colorectal cancer and other future indications, management said it is pursuing signal-seeking cohorts and combination approaches based on biology rather than simply chasing competitors.
The bull case from this call is that Bicara believes it has compelling late-stage clinical momentum, with ASCO data reinforcing deep and durable responses and a safety profile management views as differentiated. The company also has a long cash runway, an advanced pivotal study nearing substantial enrollment, and a plan to have FORTIFI-FLEX data ready for possible label support at approval.
The key risks are execution and competitive pressure: FORTIFI-HN01 still needs to deliver its interim and eventual regulatory data, while competitors are expected to report more head and neck data later this year. Management also acknowledged rising operating expenses, increased burn as development and launch-readiness spending expands, and uncertainty around how sequencing and second-line EGFR competition will affect the market.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 55.3%
- Shares Outstanding
- 65.70M
- Float Shares
- 36.30M
of shares held by institutions
154 13F filers
Buy/sell ratio 0.47. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Ra Capital Management, L.P. | 7.26M | 0 |
| T. Rowe Price Investment Management, Inc. | 6.34M | ▼ 267.29K |
| Siren, L.L.C. | 5.60M | ▼ 200.00K |
| Vestal Point Capital, LP | 5.25M | ▼ 175.00K |
| Deep Track Capital, LP | 4.10M | ▲ 37.50K |
| Blackrock, Inc. | 3.85M | ▲ 1.00M |
| Janus Henderson Group PLC | 3.34M | ▲ 692.93K |
| Red Tree Management, LLC | 3.16M | ▼ 6.99K |
| Tpg Gp A, LLC | 3.01M | 0 |
| Vanguard Capital Management LLC | 2.22M | ▲ 442.42K |
| Vanguard Group Inc | 2.19M | ▼ 14.78K |
| State Street Corp | 2.05M | ▲ 629.53K |
Held by 182 ETFs
Biggest fund positions in BCAX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 12, 26 | Larson Jennifer | other | 285,000 |
| Aug 12, 26 | Larson Jennifer | other | 0 |
| Aug 10, 26 | Hyep Ivan | other | 12,500 |
| Aug 10, 26 | Hyep Ivan | sell | 12,500 |
| Aug 10, 26 | Hyep Ivan | other | 12,500 |
| Aug 10, 26 | Mazumdar Claire | other | 10,000 |
| Aug 10, 26 | Mazumdar Claire | sell | 10,000 |
| Aug 10, 26 | Mazumdar Claire | other | 10,000 |
| Aug 10, 26 | Cohlhepp Ryan | other | 18,750 |
| Aug 10, 26 | Cohlhepp Ryan | sell | 18,750 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our BCAX coverage
Recent articles, reports, and earnings notes.
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Generate BCAX report →Bicara Therapeutics Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
globenewswire.com · Aug 14
Dimensional Fund Advisors LP Increases Stock Position in Bicara Therapeutics Inc. $BCAX
defenseworld.net · Aug 14
Bicara Therapeutics: My Optimism Is Building Despite Recent Market Headwinds
seekingalpha.com · Aug 12
Bicara Therapeutics Analysts Raise Their Forecasts After Q2 Results
benzinga.com · Aug 12
Bicara Therapeutics Inc. (BCAX) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 11
Bicara Therapeutics Q2 Earnings Call Highlights
marketbeat.com · Aug 11
Bicara Therapeutics to Report Second Quarter 2026 Financial Results and Business Updates on August 11, 2026, at 8:30 AM ET
globenewswire.com · Aug 4
Bicara Therapeutics Announces Appointments of Jeremy Bender and Christy Oliger to Board of Directors
globenewswire.com · Jul 28
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