Bicara Therapeutics Inc.(BCAX) - 2024 Q4 - Annual Results

Financial Performance - As of December 31, 2024, Bicara had cash and cash equivalents of $489.7 million, up from$230.4 million as of December 31, 2023, indicating a 112% increase[12] - Research and development expenses for Q4 2024 were $19.9 million, compared to$10.6 million in Q4 2023, representing an increase of 88%[12] - General and administrative expenses for Q4 2024 were $6.8 million, up from$3.1 million in Q4 2023, reflecting a 119% increase[12] - The net loss for Q4 2024 was $21.0 million, compared to a net loss of$12.4 million in Q4 2023, marking a 69% increase in losses[12] - The total operating expenses for the full year 2024 were $82.4 million, compared to$39.9 million for the full year 2023, indicating a 106% increase[12] Assets and Liabilities - Total assets increased to $509,996 thousand in 2024 from$233,982 thousand in 2023, representing a growth of 118%[18] - Current assets rose to $502,533 thousand in 2024, up from$231,073 thousand in 2023, marking an increase of 117%[18] - Total liabilities increased to $18,121 thousand in 2024 from$15,474 thousand in 2023, showing a rise of 17%[18] - Current liabilities rose to $17,990 thousand in 2024, up from$15,085 thousand in 2023, which is an increase of 19%[18] - Accounts payable increased to $3,893 thousand in 2024 from$2,142 thousand in 2023, representing a growth of 82%[18] - Accrued expenses and other current liabilities rose to $12,875 thousand in 2024, compared to$8,053 thousand in 2023, marking an increase of 60%[18] - Operating lease liability – current portion increased to $607 thousand in 2024 from$285 thousand in 2023, reflecting a growth of 113%[18] - Other assets increased to $6,618 thousand in 2024 from$2,094 thousand in 2023, representing a growth of 216%[18] Cash Flow and Funding - The company expects its existing cash resources to fund operations into the first half of 2029[12] Research and Development - Bicara commenced dosing in the FORTIFI-HN01 pivotal Phase 2/3 trial of ficerafusp alfa in 1L recurrent/metastatic head and neck squamous cell carcinoma in February 2025[4] - Updated data from the ongoing Phase 1/1b trial of ficerafusp alfa will be presented at the 2025 ASCO Annual Meeting[5] - Bicara plans to initiate a Phase 1b expansion cohort for ficerafusp alfa in patients with 3L+ metastatic colorectal cancer in 2025[8] - Bicara's lead program, ficerafusp alfa, is being developed for multiple solid tumor types, including head and neck squamous cell carcinoma[10] Stockholders' Equity - Total stockholders' equity improved to $491,875 thousand in 2024, compared to a deficit of$(148,769) thousand in 2023, indicating a positive turnaround[18]