Bicara Therapeutics ownership update: Vestal Point Capital, LP and Ryan Wilder report beneficial ownership of 5,425,000 shares of Bicara Therapeutics common stock. The reporting persons state this equals 8.3% of 65,467,187 shares outstanding as of March 24, 2026, per the company’s Form 10-K. The filing identifies the shares as held by the Vestal Point Fund and Account and attributes shared voting and dispositive power of 5,425,000 to the Investment Manager and to Mr. Wilder in his managerial capacities.
Positive
None.
Negative
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Insights
Vestal Point reports a meaningful passive stake in Bicara.
Vestal Point Capital and Ryan Wilder report 5,425,000 shares representing 8.3% of outstanding common stock as of March 24, 2026. The position is shown as shared voting and dispositive power held through the Vestal Point Fund and Account.
Ownership is disclosed on a Schedule 13G/A amendment, which is typically used for passive or investment-manager disclosures. Subsequent filings would be required if voting or intent changes; timing and cash-flow treatment are not stated in the excerpt.
Filing correctly ties percentage to company outstanding shares.
The 8.3% percentage is calculated using 65,467,187 shares outstanding reported in the Company's Form 10-K for the fiscal year ended December 31, 2025. The Schedule 13G/A amendment format and signature blocks are present and dated May 15, 2026.
Disclosure preserves the reporting persons' reservation that they are not admitting beneficial ownership under Section 13 definitions; any change to passive status would require an updated filing.
Key Figures
Shares beneficially owned:5,425,000 sharesPercent of class:8.3%Shares outstanding used:65,467,187 shares+3 more
6 metrics
Shares beneficially owned5,425,000 sharesreported by Vestal Point Fund and Account
Percent of class8.3%of 65,467,187 shares outstanding as of March 24, 2026
Shares outstanding used65,467,187 sharesas reported in the Company's Form 10-K for fiscal year ended December 31, 2025
"This statement is filed by: Vestal Point Capital, LP ... (Schedule 13G/A amendment)"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
beneficially ownedfinancial
"Amount beneficially owned: The information required by Item 4(a) is set forth in Row 9"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
dispositive powerregulatory
"Shared Dispositive Power 5,425,000.00"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
investment managerother
"Vestal Point Capital, LP (the "Investment Manager"), a Delaware limited partnership"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Bicara Therapeutics Inc.
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
055477103
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
055477103
1
Names of Reporting Persons
Vestal Point Capital, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,425,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,425,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,425,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.3 %
12
Type of Reporting Person (See Instructions)
IA, PN
SCHEDULE 13G
CUSIP Number(s):
055477103
1
Names of Reporting Persons
Ryan Wilder
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
5,425,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,425,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,425,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.3 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Bicara Therapeutics Inc.
(b)
Address of issuer's principal executive offices:
116 Huntington Ave Suite 703, Boston, Massachusetts 02116
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Vestal Point Capital, LP (the "Investment Manager"), a Delaware limited partnership, and the investment adviser to a certain fund and a managed account (the "Vestal Point Fund and Account"), with respect to the shares of common stock, par value $0.0001 per share ("Common Stock") of Bicara Therapeutics Inc. (the "Company") directly held by the Vestal Point Fund and Account; and
(i) Mr. Ryan Wilder ("Mr. Wilder"), the Chief Investment Officer and Managing Partner of the Investment Manager and the Managing Member of Vestal Point Capital, LLC, the general partner of the Investment Manager, with respect to the shares of Common Stock directly held by the Vestal Point Fund and Account.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 632 Broadway, Suite 602, New York, NY 10012.
(c)
Citizenship:
The Investment Manager is a Delaware limited partnership. Mr. Wilder is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
055477103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 65,467,187 shares of Common Stock outstanding as of March 24, 2026, as reported in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on March 30, 2026.
(b)
Percent of class:
8.3%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a). The Vestal Point Fund and Account have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock reported herein.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Vestal Point Capital, LP
Signature:
/s/ Ryan Wilder
Name/Title:
By: Vestal Point Capital, LLC, General Partner, By: Ryan Wilder, Chief Investment Officer and Managing Partner
What stake does Vestal Point hold in Bicara Therapeutics (BCAX)?
Vestal Point Capital and Ryan Wilder report ownership of 5,425,000 shares, representing 8.3% of Bicara's outstanding common stock of 65,467,187 shares as of March 24, 2026.
Who is reported as the beneficial owner on the Schedule 13G/A for BCAX?
The filing lists Vestal Point Capital, LP (the Investment Manager and fund/account) and Ryan Wilder as reporting persons, with the shares held by the Vestal Point Fund and Account.
What voting and dispositive powers are reported by Vestal Point for BCAX?
The cover data shows shared voting power of 5,425,000 shares and shared dispositive power of 5,425,000 shares for the reporting persons.
What date was used to calculate the 8.3% ownership figure for BCAX?
The filing calculates 8.3% using Bicara's outstanding share count of 65,467,187 as of March 24, 2026, cited from the Company's Annual Report on Form 10-K.
Does this Schedule 13G/A show Vestal Point is no longer passive in BCAX?
No; the amendment is filed as a Schedule 13G/A and the text preserves that the filing should not be construed as admission of beneficial ownership under Section 13 definitions; changes in intent would require a different filing.
