Bicara Therapeutics initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Bicara Therapeutics with a Buy rating. Head and neck cancer has historically been underdeveloped, and the class of next-generation epidermal growth factor receptor bispecifics will reshape the standard of care, the analyst tells investors in a research note. The firm says ficerafusp alfa’s depth and durability is leading in the first-line, which puts Bicara “in an enviable position as the pivotal program kicks off.” First-line head and neck squamous cell carcinoma could be a $5B-$10B opportunity, and ficerafusp alfa has a very high probability of successful development, contends TD.