Bicara Leads Trio of US Biotech IPOs Raising $703 Million

A trio of biotech companies sold shares in their initial public offerings on Thursday, an encouraging sign for a sector whose new entrants have lately struggled.

Bicara Therapeutics Inc. expanded its IPO to sell 17.5 million shares at $18 each, at the top of the price range, to raise $315 million, according to a statement. The company had boosted the number of shares on Wednesday, a regulatory filing showed.

MBX Biosciences Inc. raised $163.2 million in its enlarged first-time share sale, pricing 10.2 million shares at $16 each, according to a statement. The number of shares was increased from ...