Why did Bicara Therapeutics' operating expenses surge in Q4 2024?

Bicara Therapeutics' operating expenses increased significantly in Q4 2024 due to several factors: 1. **Initiation of Clinical Trials**: The company initiated the pivotal Phase 2/3 trial, FORTIFI-HN01, for its lead asset, ficerafusp alfa, which is a significant investment in research and development. The trial is focused on recurrent/metastatic head and neck squamous cell carcinoma (HNSCC) and other solid tumors. 2. **Ongoing Phase 1/1b Trial**: Bicara is also advancing an ongoing Phase 1/1b trial of ficerafusp alfa in 1L R/M HNSCC, which requires continued investment in research and development. 3. **General and Administrative Expenses**: The company's transition to a public entity has led to an increase in general and administrative expenses. These factors combined have led to a surge in operating expenses for the company during Q4 2024.