Bicara Therapeutics and MBX Biosciences successfully debuted on the stock market, signaling a revival in biotech IPO activity. Bicara, which raised $315 million by upsizing its offering to 17.5 million shares priced at $18 each, focuses on developing ficerafusp alfa, a bifunctional antibody targeting solid tumors. Meanwhile, MBX Biosciences opened at $23 per share after pricing its offering of 10.2 million shares at $16, reflecting a 44% increase. Zenas BioPharma's performance lagged behind, opening at $18.35 after pricing its shares at $17. This resurgence comes amid cautious optimism in the market, following shifts in economic indicators that have led startups to consider public listings. The IPOs were underwritten by notable firms including Morgan Stanley and TD Cowen, indicating strong backing for these biotech ventures.