Subsequent Events

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

February 2026 Offering

In February 2026, the Company entered into an underwriting agreement with Morgan Stanley & Co. LLC, TD Securities (USA) LLC and BofA Securities, Inc., as representatives of the underwriters named therein, pursuant to which the Company issued and sold an aggregate of (i) 8,581,250 shares of Common Stock at a price to the public of $16.00 per share, which included full exercise of the underwriters’ option to purchase 1,406,250 additional shares of Common Stock at the public offering price, and (ii) pre-funded warrants to purchase up to 2,200,000 shares of Common Stock at a public offering price of $15.9999 per pre-funded warrant. The February 2026 Offering closed on February 26, 2026 and resulted in net proceeds of approximately $161.8 million, after deducting underwriting discounts and commissions and offering expenses payable by the Company. All the shares of Common Stock and pre-funded warrants were sold by the Company.

2026 Inducement Plan

In January 2026, the Company’s board of directors adopted the Bicara Therapeutics Inc. 2026 Inducement Plan (the “Inducement Plan”) and reserved 1,000,000 shares of common stock for future issuance under the Inducement Plan.

The Inducement Plan has not been approved by the stockholders of the Company and provides for the grant of non-qualified stock options, stock appreciation rights, RSAs, RSUs, unrestricted stock awards and dividend equivalent rights to newly hired employees as a material inducement to accept employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).