Bicara Therapeutics Announces Closing of $362 Million Initial Public Offering, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares
Rhea-AI Summary
Bicara Therapeutics (Nasdaq: BCAX) has successfully closed its initial public offering (IPO) of 20,125,000 shares of common stock at $18.00 per share, raising gross proceeds of approximately $362 million. The offering included the full exercise of the underwriters' option to purchase an additional 2,625,000 shares. Trading of Bicara's shares on the Nasdaq Global Market began on September 13, 2024, under the ticker symbol 'BCAX'.
The IPO was jointly managed by Morgan Stanley, TD Cowen, Cantor, and Stifel as bookrunners. Bicara Therapeutics, a clinical-stage biopharmaceutical company focused on developing bifunctional therapies for solid tumors, will use the proceeds to advance its research and development efforts.
Positive
- Successful IPO raising $362 million in gross proceeds
- Full exercise of underwriters' option to purchase additional shares, indicating strong demand
- Listing on Nasdaq Global Market, potentially increasing visibility and liquidity
- Significant capital infusion to support research and development of bifunctional therapies for solid tumors
Negative
- Potential dilution of existing shareholders' ownership due to the large number of new shares issued
- Increased public scrutiny and reporting requirements as a newly public company
- Market volatility risks associated with newly listed biotech stocks
News Market Reaction – BCAX
In the trading session that priced this news, BCAX gained 6.53%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BOSTON, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Bicara Therapeutics Inc. (Nasdaq: BCAX), a clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies for patients with solid tumors, today announced the closing of its initial public offering of 20,125,000 shares of its common stock at a public offering price of
Morgan Stanley, TD Cowen, Cantor and Stifel acted as joint bookrunners for the offering.
The gross proceeds to Bicara Therapeutics from the initial public offering, including full exercise of the underwriters’ option to purchase additional shares, before deducting underwriting discounts and commissions and offering expenses payable by Bicara Therapeutics, were approximately
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 was made only by means of a prospectus. A copy of the final prospectus, 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.
Contacts
Investors
Rachel Frank
IR@bicara.com
Media
Dan Budwick
1AB
dan@1abmedia.com
