Boston-based Bicara Therapeutics goes public; lists on Nasdaq
cancer therapy developer Bicara Therapeutics became a publicly listed company after getting listed on Nasdaq on Wednesday.
The Boston-based company is a clinical-stage biopharmaceutical company for bifunctional therapies for patients with solid tumors.
Claire Mazumdar, chief executive of Bicara, said the company now has the capital and resources for its clinical studies following the initial public offering (IPO).
Claire is the niece of Biocon chief Kiran Mazumdar Shaw. As per Reuters, shares of Bicara Therapeutics surged nearly 46% on their debut on September 13, giving the company a market value of $1.29 billion. The shares opened at $26.25 apiece, compared with an offer price of $18, the report said.
Bicara raised $315 million by selling 17.5 million shares in the IPO, after increasing the size of its offer twice.
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