Earnings Releases·Nov 9, 2026, 7:52 AM ET

Bicara Therapeutics — Third Quarter 2026 Earnings Summary

Cash and marketable securities increased to $442.3 million as of September 30, 2026, from $414.8 million at year-end 2025, with management projecting these funds will support operations into the first half of 2029.
Operating expenses and net losses widened significantly in Q3 2026, with R&D rising to $56.5 million (from $33.0 million) and G&A to $19.2 million (from $7.7 million), resulting in a net loss of $71.2 million versus $36.3 million in the prior year period.
The FORTIFI-HN01 pivotal trial in 1L R/M HPV-negative HNSCC has achieved substantial enrollment, with topline results expected in mid-2027, while Phase 1b data for 3L+ mCRC is scheduled for presentation in January 2027.
A commercial leadership team has been established to prepare for potential market entry, and the company is evaluating alternate dosing regimens in the FORTIFI-FLEX study to enhance the drug's competitive profile.