Aug. 19 at 11:20 AM
BMO Capital🏁
$BCAX and said -- We are initiating coverage of Bicara Therapeutics with an Outperform rating and
$35 target price.
MRUS -
$GMAB $LLY MRK BMY AZN INCY
BMO Capital added—Bicara's bispecific, ficerafusp alfa, is a differentiated HNSCC asset with the potential to deliver broader, deeper, and more durable responses.
The pivotal FORTIFI-HN01 interim analysis in mid-2027 is the key value inflection point, wherein a clear translation of strong Ph 1b activity indicates a strong market positioning, paving a path to accelerated approval in 2028 for a ~
$2 billion peak sales opportunity.
Other solid tumor opportunities, including mCRC, can provide additional upside potential.
