TPG-backed Bicara Therapeutics soars in Nasdaq market debut

Bicara Therapeutics

13/09/2024 19:20

** Shares of cancer therapy developer Bicara Therapeutics
 BCAX.O  jump as much as 50% in their Nasdaq debut, last up 39%
at $25.02
    ** BCAX shares opened at $26.25 vs $18 IPO price, giving the
Boston-based company a market value of $1.29 billion 
    ** Bicara, backed by alternative asset manager TPG  TPG.O ,
raised $315 mln by selling 17.5 mln shares priced at the higher
end of its marketed range 
    ** The biotech IPO market looks to be becoming more
attractive again. We can see clear signs of that with the other
two debuts today (MBX Biosciences and Zenas BioPharma), both the
companies upped their offer sizes as well - IPOX research
analyst Lukas Muehlbauer
    ** Morgan Stanley, TD Cowen, Stifel and Cantor Fitzgerald
were the underwriters

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))