BCAXBicara Therapeutics Inc.
Pharmaceutical Preparations
- Revenue
- —
- Operating margin
- —
- EBITDA
- −$155M
- 89% YoY
- Market cap
- $602M
- Employees
- 103
- Net debt / EBITDA
- —
- AI in 10-K
- 2.5
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo88% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.5 per 10K words · 62nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$602M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$30M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Operating income | −$40M | −$82M | −$156M | 89% |
| Net income | −$52M | −$68M | −$138M | 103% |
| Operating cash flow | −$46M | −$75M | −$107M | 43% |
| Capex | $586K | $71K | $280K | 294% |
| Stock-based comp | $2M | $7M | $15M | 103% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Mar 2, 2026 | RA CAPITAL MANAGEMENT, L.P. | SCHEDULE 13D/A | 11.5% | Passive |
| Sep 23, 2024 | RA CAPITAL MANAGEMENT, L.P. | SC 13D | 12.8% | Passive |
| Sep 18, 2024 | TPG GP A, LLC | SC 13D | 5.5% | Passive |
Insider trading
- Open-market buys, 12 mo
- $5M · 1
- Open-market sells, 12 mo
- $10M · 57
- Net
- −$5M
Pay vs performance
No pay-versus-performance disclosure yet.