Bicara Therapeutics Announces Inducement Grant under Nasdaq Listing Rule 5635(c)(4)

Bicara Therapeutics (Nasdaq: BCAX) awarded an inducement non-qualified stock option on April 1, 2026, to a new employee for 44,175 shares at an exercise price of $20.50, equal to the Nasdaq closing price on April 1, 2026.

Rhea-AI Summary

Bicara Therapeutics (Nasdaq: BCAX) awarded an inducement non-qualified stock option on April 1, 2026, to a new employee for 44,175 shares at an exercise price of $20.50, equal to the Nasdaq closing price on April 1, 2026.

The option vests 25% after one year, then in 12 equal quarterly installments, and was granted under Bicara’s 2026 Inducement Plan adopted in January 2026 and approved by an independent compensation committee in accordance with Nasdaq Listing Rule 5635(c)(4).

Market Context

This announcement details a routine inducement stock option grant of 44,175 shares at an exercise pr...

Analysis

This announcement details a routine inducement stock option grant of 44,175 shares at an exercise price of $20.50, aligned with Nasdaq Listing Rule 5635(c)(4). It fits a recent pattern of equity-related activity alongside clinical and financial updates. Investors reviewing the story may contextualize it with prior offerings, the Phase 3 program, cash of $414.8M, and the existing shelf registration when assessing potential future dilution and hiring-driven growth.

Key Figures

Inducement option size: 44,175 shares Option exercise price: $20.50 per share Par value: $0.0001 per share +5 more

Inducement option size

44,175 shares

Non-qualified stock option grant to one new employee

Option exercise price

$20.50 per share

Equal to BCAX Nasdaq closing price on April 1, 2026

Par value

$0.0001 per share

Par value of Bicara common stock

Vesting cliff

25% after 1 year

One-fourth of shares vest on first anniversary of start date

Remaining vesting schedule

12 quarterly installments

Balance vests in 12 equal quarterly tranches

Grant date

April 1, 2026

Date of inducement stock option grant

Listing rule

Nasdaq Rule 5635(c)(4)

Inducement grant made in reliance on this rule

Inducement plan year

2026 Inducement Plan

Plan adopted by board in January 2026

Historical Context

5 past events · Latest: Mar 30

5 events

1. Mar 30

   Earnings and update

   24h Move

   +3.6%

   Q4/FY 2025 results, Phase 3 initiation, strong cash and extended runway.

2. Mar 23

   Earnings date set

   24h Move

   -0.1%

   Announcement of date and time for Q4/FY 2025 earnings call.

3. Mar 04

   Inducement grant

   24h Move

   +3.5%

   Non-qualified stock option for 115,000 shares as hiring inducement.

4. Feb 26

   Offering closing

   24h Move

   -0.1%

   Closing of oversubscribed public offering with underwriters’ option fully exercised.

5. Feb 24

   Offering pricing

   24h Move

   +7.8%

   Pricing of $150M public offering of common stock and pre-funded warrants.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-qualified stock option, Nasdaq Listing Rule 5635(c)(4)

2 terms

non-qualified stock option financial

"The employee received a non-qualified stock option to purchase 44,175 shares..."

A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.

Nasdaq Listing Rule 5635(c)(4) regulatory

"…in accordance with Nasdaq Listing Rule 5635(c)(4)."

NASDAQ Listing Rule 5635(c)(4) is a rule that requires a company to get approval from its shareholders before selling a large amount of its shares, usually over 20%. This helps protect investors by making sure the company doesn't flood the market with new shares without their say, which could lower the stock's value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BOSTON, April 03, 2026 (GLOBE NEWSWIRE) -- Bicara Therapeutics Inc. (Nasdaq: BCAX), a clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies to patients with solid tumors, today announced it awarded an inducement grant on April 1, 2026 to one new employee under Bicara’s 2026 Inducement Plan as a material inducement to employment.

The employee received a non-qualified stock option to purchase 44,175 shares of Bicara’s common stock, par value $0.0001 per share, with an exercise price of $20.50 per share, equal to the closing price of Bicara’s common stock as reported by Nasdaq on April 1, 2026. One-fourth of the shares vest on the first anniversary of the employee’s applicable start date, with the remaining shares vesting in 12 equal quarterly installments thereafter, subject to the employee’s continued service with the company through each applicable vesting date.

The above-described award was granted outside of Bicara’s stockholder-approved equity incentive plans and is pursuant to Bicara’s 2026 Inducement Plan, which was adopted by Bicara’s board of directors in January 2026. The award was approved by the compensation committee of Bicara’s board of directors, which is comprised solely of independent directors, as a material inducement to the employee entering into employment with Bicara in accordance with Nasdaq Listing Rule 5635(c)(4).

About Bicara Therapeutics

Bicara is a clinical-stage biopharmaceutical company committed to bringing transformative bifunctional therapies to patients with solid tumors. Bicara has built a platform designed to facilitate the development of bifunctional therapies that precisely target the tumor and deliver a tumor-modulating payload to the tumor site. This approach was deployed in the development of Bicara’s lead program ficerafusp alfa, formerly BCA101, a bifunctional epidermal growth factor receptor (EGFR) directed monoclonal antibody bound to a human transforming growth factor beta (TGF-β) ligand trap. By combining these two clinically validated targets, 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 (TME). Ficerafusp alfa directs the TGF-β inhibitor into the immediate TME through the binding of EGFR on tumor cells, which Bicara believes will lead to deep and durable responses and an increase in overall survival, while reducing the potential adverse effects previously associated with systemic TGF-β inhibition. Ficerafusp alfa is being developed in head and neck squamous cell carcinoma, where there remains a significant unmet need, as well as other solid tumor types. For more information, please visit www.bicara.com or follow us on LinkedIn and X.

Contacts

Investors:
Rachel Frank
IR@bicara.com

Media:
Amanda Lazaro
1AB
Amanda@1abmedia.com 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What inducement award did Bicara Therapeutics (BCAX) grant on April 1, 2026?

Bicara granted a non-qualified stock option for 44,175 shares with a $20.50 exercise price. According to Bicara, the exercise price matched the Nasdaq closing price on April 1, 2026 and the grant was made as a material inducement to employment.

What is the vesting schedule for the BCAX inducement option awarded April 1, 2026?

The option vests 25% after one year, then in 12 equal quarterly installments. According to Bicara, vesting is subject to the employee’s continued service through each applicable vesting date under the inducement plan.

Under which plan and Nasdaq rule was the BCAX inducement grant approved?

The award was granted under Bicara’s 2026 Inducement Plan and approved pursuant to Nasdaq Listing Rule 5635(c)(4). According to Bicara, the plan was adopted by the board in January 2026 and approved by the independent compensation committee.

How was the exercise price for Bicara’s April 1, 2026 option determined?

The exercise price was set at $20.50, equal to the closing price of Bicara common stock on Nasdaq on April 1, 2026. According to Bicara, the price reflects the reported Nasdaq close on that date.

Does the BCAX inducement award come from shareholder-approved equity plans?

No, the award was granted outside Bicara’s stockholder-approved equity incentive plans. According to Bicara, it was issued as a material inducement under the 2026 Inducement Plan adopted by the board in January 2026.