Bound states in the continuum (BICs) are non-radiating solutions of the wave equation with a spectrum embedded in the continuum of propagating waves of the surrounding space. The complete decoupling of BICs from the radiation continuum makes their excitation impossible from the farfield. Here, we develop a general theory of parametric excitation of BICs in nonlinear systems with Kerr-type nonlinearity via spontaneous symmetry breaking, which results in a coupling of a BIC and a bright mode of the system. Using the temporal coupled-mode theory and perturbation analysis, we found the threshold intensity for excitation of a BIC and study the possible stable and unstable solutions depending on the pump intensity and frequency detuning between the pump and BIC. We revealed that at some parameters of the pump beam, there are no stable solutions and the BIC can be used for frequency comb generation. Our findings can be very promising for use in nonlinear photonic devices and all-optical networks.