Bicara’s Ficera Achieves 54% ORR, BofA Initiates Buy with $35
Bank of America initiated coverage of Bicara with a buy rating and $35 target, highlighting ficera’s potential to become first-line therapy for recurrent/metastatic HPV-negative head and neck squamous cell carcinoma. Phase 1b data showed 54% response rate, 9.9-month median PFS and 22-month response duration versus 19-36% ORR and 3-5-month PFS.
1. BofA Initiates Coverage
Bank of America initiated coverage of Bicara with a buy rating and a $35 price target, citing ficera’s potential to reshape first-line treatment for HPV-negative recurrent/metastatic head and neck squamous cell carcinoma.
2. Phase 1b Trial Results
In a combination regimen with pembrolizumab, ficera delivered a 54% objective response rate, a 9.9-month median progression-free survival and a 22-month median duration of response, outpacing current standard-of-care benchmarks of 19-36% ORR, 3-5-month PFS and seven-month response durability.
3. Pipeline Expansion and Sales Outlook
An interim analysis from the phase 3 trial is expected in mid-2027 and could support accelerated approval, while additional studies in colorectal cancer are due in the second half of 2026; peak risk-adjusted sales for ficera are projected at about $1 billion by 2037.