Three biotech companies, Bicara Therapeutics, Zenas BioPharma, and MBX Biosciences, have raised a total of $700 million in a rare burst of IPO activity. Bicara Therapeutics, focused on oncology, priced its upsized IPO at $18 per share, raising $315 million by offering 17.5mm shares. Zenas BioPharma, an autoimmune startup, raised $225 million by pricing its 13.2M shares at $17 each. MBX Biosciences, which develops therapies for endocrine and metabolic disorders, raised $163 million with 10.2mm shares priced at $16. All three companies saw significant increases in their share prices during their Nasdaq debuts, with MBX Biosciences jumping nearly 44%, Bicara Therapeutics increasing by 30%, and Zenas BioPharma rising by 7%. This surge in IPO activity is seen as a positive sign for the biotech sector, which has struggled with new entrants lately.