XVARY Composite Score
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Combines growth, value, risk, and momentum factors into a single institutional-grade score.
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What it is
Bicara is a biotech betting one antibody drug can help tumors let treatment in.
How it gets paid
Last year Bicara Therapeutics made n/a in revenue. Ficerafusp alfa was the main engine at $0M, or 25% of sales.
What just happened
The latest quarter showed -$1.84 EPS and no reported revenue.
At a Glance
N/a balance sheet
-$4.05 fy2024 eps est
~$1B market cap
Small cap
NASDAQ
What They Do
Bicara is a biotech betting one antibody drug can help tumors let treatment in.
Ficerafusp alfa stacks two targets: EGFR means the tumor hook, so the drug can stick, and TGF-beta means the scar signal, so tumors lose a shield. That matters in head and neck squamous cell carcinoma, where Bicara says unmet need remains. You are not buying sales here. You are buying 55 employees and one scientific shot.
How They Make Money
n/a
annual revenue
Ficerafusp alfa
$0M
EGFR-directed antibody
$0M
TGF-beta binder
$0M
Pipeline research
$0M
The Products That Matter
Phase 3 oncology asset
ficerafusp alfa
lead program · most of the story
this is the asset carrying a roughly $1.3B market cap. if phase 3 works, BCAX gets a real commercial path. If it fails, the current equity story loses its center of gravity.
single-asset story
Balance sheet support
cash balance
$290M on hand
for a company without product revenue, cash is the product that matters second-most. It funds the trial, delays dilution, and buys time for the data to matter.
runway watch
Capital structure
long-term debt
$1M · 0% of capital
the balance sheet is not being squeezed by leverage. That does not remove the biotech risk. It just means the biggest threat is clinical failure, not debt service.
low leverage
Key Numbers
$14.21
share price
You are paying $14.21 for a company with one lead drug and no sales.
~$1B
market cap
A roughly $1B valuation is a big number for a company with $0M revenue.
55
employees
Fifty-five people is a tiny crew for a company priced like a real cancer bet.
$0M
revenue
Zero sales means the stock is trading on the pipeline, not the income statement.
Financial Health
n/a
Strength
- balance sheet grade n/a
- long-term debt $1M (0% of capital)
n/a — functional but not a standout on the balance sheet.
Total Return vs. Market
source: institutional data · return history unavailable
What Just Happened
missed estimates
The latest quarter showed -$1.84 EPS and no reported revenue.
EDGAR shows EPS of -$1.84 in the latest quarter. Yahoo Finance shows trailing EPS at -$2.68 and trailing revenue at $0M, which says the business is still all spend and no sales.
$0M
revenue
-$1.84
eps
n/a
n/a
the number that mattered
The number that mattered was $0M revenue, because it tells you the company is still pre-commercial and living on capital raises.
source: company earnings report, 2026
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What Could Go Wrong
The #1 risk is phase 3 failure for ficerafusp alfa. BCAX is a one-asset story, so the science, the dose, and the trial execution are the stock.
Med
One readout can break the whole setup
With one lead program doing most of the valuation work, negative efficacy or safety data would hit the core thesis directly. There is no diversified revenue base to soften the blow.
With one lead program doing most of the valuation work, negative efficacy or safety data would hit the core thesis directly. There is no diversified revenue base to soften the blow.
Med
Cash burn turns $290M into a countdown
The company has cash, but no commercial revenue in this snapshot. If trial timelines slip or spending rises, dilution becomes a financing tool rather than a hypothetical.
The company has cash, but no commercial revenue in this snapshot. If trial timelines slip or spending rises, dilution becomes a financing tool rather than a hypothetical.
Med
End-2026 enrollment is a promise the market will audit
Biotech timelines have a habit of moving right. If substantial phase 3 enrollment misses that target, confidence drops before the data even arrives.
Biotech timelines have a habit of moving right. If substantial phase 3 enrollment misses that target, confidence drops before the data even arrives.
combined, these risks put essentially the whole current equity story and the $290M cash balance on one clinical program.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Timeline
Phase 3 enrollment pace into end 2026
Management is aiming for substantial enrollment by the end of 2026. If updates start slipping, the market will notice before the data reads out.
Cash
Quarterly burn against the $290M balance
Consensus EPS is -$0.65. That is another way of saying this company is still consuming capital. Watch whether the cash pile shrinks faster than the trial timeline.
Valuation
The street's $11–$48 target spread
That range is not normal certainty. It is the market pricing a binary biotech where success and failure live very far apart.
Concentration
Single-asset risk never really goes away
As long as ficerafusp alfa remains the centerpiece, good or bad updates on one program will dominate the stock. That is the trade you are making.
Analyst Rankings
coverage breadth
11
11 analysts cover the stock. in human-speak, BCAX is followed closely enough that consensus matters.
street low target
$11 below spot
the cautious case sits below the current $14.21 price. some analysts are still pricing in real downside.
street high target
$48 upside case
the optimistic case is more than triple the current stock price. that is what a successful biotech outcome can do to a model.
earnings outlook
-$0.65 expected loss
EPS means earnings per share. Here it just tells you the company is still in investment mode, not harvest mode.
Source: institutional data
Institutional Activity
institutional ownership data for BCAX is being compiled.
Source: institutional data
Price Targets
3-5 year target range
$14
Current price
Target midpoint · from current
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