Bicara Therapeutics initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Bicara Therapeutics (BCAX) with an Overweight rating. The firm says Bicara is Bicara is developing ficerafusp alfa, a first-in-class bifunctional antibody against estimated glomerular filtration rate and transforming growth factor-ss, and is advancing toward a Phase 3 trial in front-line head & neck squamous cell carcinoma supported by strong Phase 2 data. Ficerafusp could become a standard-of-care therapy in combination with Merck’s (MRK) Keytruda in this indication, taking in over $1B in peak sales, the analyst tells investors in a research note, adding that the firm’s model suggests Bicara shares are 52% undervalued.