Bicara Therapeutics Inc. (BCAX) Balance Sheet
BCAX balance sheet, 2025
December 31, 2025 · U.S. dollars$431.0M assets = $29.5M liabilities + $401.5M equity
Both columns are drawn to the same scale: what BCAX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BCAX financial health
Descriptive bands, not a rating. Fiscal 2025.
BCAX balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $6.7M2022 | $431.0M2025 | +300.6%/yr | |
| Total liabilities | $24.0M2022 | $29.5M2025 | +7.2%/yr | |
| Shareholders’ equity | −$17.3M2022 | $401.5M2025 | — | |
| Cash & short-term investments | $4.2M2022 | $414.8M2025 | +363.8%/yr | |
| Total debt | $657,0002023 | $1.7M2025 | +61.3%/yr | |
| Net cash (debt) | $229.8M2023 | $413.1M2025 | +$183.3M | |
| Working capital | −$18.9M2022 | $393.1M2025 | +$412.0M | |
| Book value per share | −$0.332022 | $7.342025 | — | |
| Debt / equity | 0.002023 | 0.002025 | 0.00 | |
| Shares outstanding | 51.8M2022 | 54.7M2025 | +1.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BCAX assets
BCAX liabilities and equity
BCAX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BCAX balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $414.8M | $489.7M | $230.4M | $4.2M |
| Cash & equivalents | $96.7M | $489.7M | $230.4M | $4.2M |
| Short-term investments | $318.1M | $0 | — | — |
| Receivables | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $7.3M | $12.8M | $633,000 | $826,000 |
| Total current assets | $422.1M | $502.5M | $231.1M | $5.0M |
| Property, plant & equipment (net) | $2.0M | $845,000 | $815,000 | $636,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.9M | $65.8M | $2.1M | $1.1M |
| Total assets | $431.0M | $569.2M | $234.0M | $6.7M |
| Liabilities | ||||
| Accounts payable | $7.8M | $4.5M | $3.2M | $5.1M |
| Short-term debt | $1.1M | $607,000 | $285,000 | — |
| Total current liabilities | $28.9M | $18.0M | $15.1M | $23.9M |
| Long-term debt | $0 | $0 | $0 | $0 |
| Lease obligations | $1.7M | $738,000 | $657,000 | $0 |
| Other long-term liabilities | $593,000 | $59.3M | $389,000 | $85,000 |
| Total liabilities | $29.5M | $77.3M | $15.5M | $24.0M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $7,000 | $7,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | −$359.0M | −$221.0M | −$153.0M | −$101.0M |
| Accumulated other comprehensive income | $243,000 | — | $0 | $0 |
| Total shareholders' equity | $401.5M | $491.9M | $218.5M | −$17.3M |
| Key figures | ||||
| Total debt | $1.7M | $738,000 | $657,000 | — |
| Net cash (debt) | $413.1M | $489.0M | $229.8M | — |
| Working capital | $393.1M | $484.5M | $216.0M | −$18.9M |
| Tangible book value | $401.5M | $491.9M | $218.5M | −$17.3M |
| Book value per share | $7.34 | $9.04 | $4.22 | −$0.33 |
| Shares outstanding | 54.7M | 54.4M | 51.8M | 51.8M |
| Current ratio | 14.58 | 27.93 | 15.32 | 0.21 |
| Quick ratio | 14.33 | 27.22 | 15.28 | 0.17 |
| Debt / equity | 0.00 | 0.00 | 0.00 | — |
| Equity / assets | 93.1% | 86.4% | 93.4% | −257.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $497.3M | $539.8M | $414.8M | $290.2M | $436.6M | $462.1M | $489.7M | $520.8M | $203.9M | $203.9M | $230.4M |
| Cash & equivalents | $96.6M | $323.5M | $96.7M | $171.7M | $436.6M | $462.1M | $489.7M | $520.8M | $203.9M | $203.9M | $230.4M |
| Short-term investments | $400.7M | $216.3M | $318.1M | $118.5M | — | — | $0 | — | — | — | — |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $6.6M | $5.2M | $7.3M | $7.2M | $7.8M | $8.7M | $12.8M | $756,000 | $2.2M | $2.2M | $633,000 |
| Total current assets | $503.8M | $544.9M | $422.1M | $297.4M | $444.4M | $470.8M | $502.5M | $521.5M | $206.1M | $206.1M | $231.1M |
| Property, plant & equipment (net) | $1.5M | $1.8M | $2.0M | $2.1M | $2.4M | $688,000 | $845,000 | $544,000 | $619,000 | $619,000 | $815,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $117.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.9M | $6.9M | $6.9M | $7.8M | $6.8M | $6.6M | $65.8M | $2.1M | $2.1M | $2.1M | $2.1M |
| Total assets | $512.2M | $553.6M | $431.0M | $424.7M | $453.6M | $478.1M | $569.2M | $524.2M | $208.8M | $208.8M | $234.0M |
| Liabilities | |||||||||||
| Accounts payable | $8.5M | $7.4M | $7.8M | $3.7M | $2.9M | $2.7M | $4.5M | $2.0M | $4.7M | $4.7M | $3.2M |
| Short-term debt | $1.2M | $1.1M | $1.1M | $1.1M | $1.1M | $591,000 | $607,000 | $308,000 | $300,000 | $300,000 | $285,000 |
| Total current liabilities | $43.5M | $39.3M | $28.9M | $21.0M | $17.2M | $19.1M | $18.0M | $14.5M | $16.1M | $16.1M | $15.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.2M | $1.4M | $1.7M | $2.0M | $2.2M | $591,000 | $738,000 | $445,000 | $517,000 | — | $657,000 |
| Other long-term liabilities | $0 | $301,000 | $593,000 | $880,000 | $1.2M | $0 | $59.3M | $137,000 | $367.5M | $217,000 | $389,000 |
| Total liabilities | $43.5M | $39.6M | $29.5M | $21.9M | $18.4M | $19.1M | $77.3M | $14.6M | $383.6M | $16.3M | $15.5M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $8,000 | $8,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $2,000 | $2,000 | $2,000 |
| Retained earnings (deficit) | −$470.6M | −$415.2M | −$359.0M | −$321.6M | −$285.2M | −$257.9M | −$221.0M | −$200.1M | −$182.6M | −$182.6M | −$153.0M |
| Accumulated other comprehensive income | −$567,000 | −$243,000 | $243,000 | −$136,000 | $0 | — | — | $0 | — | $0 | $0 |
| Total shareholders' equity | $468.8M | $514.0M | $401.5M | $402.8M | $435.2M | $459.0M | $491.9M | $509.6M | −$174.8M | $192.5M | $218.5M |
| Key figures | |||||||||||
| Total debt | $1.2M | $1.4M | $1.7M | $2.0M | $2.2M | $591,000 | $738,000 | $445,000 | $517,000 | $517,000 | $657,000 |
| Net cash (debt) | $496.1M | $538.3M | $413.1M | $288.2M | $434.4M | $461.5M | $489.0M | $520.3M | $203.3M | $203.3M | $229.8M |
| Working capital | $460.3M | $505.6M | $393.1M | $276.3M | $427.2M | $451.6M | $484.5M | $507.0M | $190.0M | $190.0M | $216.0M |
| Tangible book value | $468.8M | $514.0M | $401.5M | $402.8M | $435.2M | $459.0M | $491.9M | $509.6M | −$174.8M | $192.5M | $218.5M |
| Book value per share | $6.90 | $8.46 | $7.28 | $7.38 | $7.98 | $8.43 | $9.04 | $9.37 | −$3.23 | $3.55 | $4.12 |
| Shares outstanding | 67.9M | 60.7M | 55.1M | 54.6M | 54.5M | 54.5M | 54.4M | 54.4M | 54.2M | 54.2M | 53.1M |
| Current ratio | 11.59 | 13.85 | 14.58 | 14.14 | 25.80 | 24.62 | 27.93 | 36.01 | 12.83 | 12.83 | 15.32 |
| Quick ratio | 11.44 | 13.72 | 14.33 | 13.80 | 25.34 | 24.17 | 27.22 | 35.96 | 12.69 | 12.69 | 15.28 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Equity / assets | 91.5% | 92.8% | 93.1% | 94.8% | 95.9% | 96.0% | 86.4% | 97.2% | −83.7% | 92.2% | 93.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 30, 2026); data from EODHD.
BCAX financial position
At the end of fiscal 2025 (December 31, 2025), Bicara Therapeutics had total assets of $431.0 million (down 24.3% from a year earlier), total liabilities of $29.5 million and shareholders' equity of $401.5 million. It held $414.8 million in cash and short-term investments against $1.7 million of debt, a net cash position of $413.1 million. Its current ratio was 14.58. In the latest quarter (ended June 30, 2026) total assets were $512.2 million and equity $468.8 million.
Related: BCAX income statement, BCAX cash flow statement, BCAX key metrics. See the BCAX stock overview for the latest quote and news.
BCAX balance sheet FAQ
What are Bicara Therapeutics's total assets?
Bicara Therapeutics reported total assets of $431.0 million at the end of fiscal 2025 (December 31, 2025), compared with $569.2 million a year earlier.
How much debt does Bicara Therapeutics have?
Bicara Therapeutics had $1.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Bicara Therapeutics have?
Bicara Therapeutics held $414.8 million in cash and short-term investments at the end of fiscal 2025; with $1.7 million of debt that is net cash of $413.1 million.
What is Bicara Therapeutics's book value?
Bicara Therapeutics's shareholders' equity (book value) was $401.5 million at the end of fiscal 2025, or $7.34 per share.
What is Bicara Therapeutics's current ratio?
Bicara Therapeutics had current assets of $422.1 million and current liabilities of $28.9 million, a current ratio of 14.58 (it can cover its short-term obligations).