Bicycle Therapeutics plc
NASDAQ•BCYC
CEO: Dr. Kevin Lee M.B.A., Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2019-05-23
Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial. The company also developing BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease; and BT7401, a multivalent bicycle CD137 agonist which is in phase IIa to treat advanced solid tumors. In addition, it develops Novel anti-infective, which is in preclinical trial targeting anti-infectives disease; CNS targets, which is in preclinical trial targeting CNS disease; and Novel neuromuscular targets, which is in preclinical trial targeting neuromuscular disease. Further, the company collaborates with biopharmaceutical companies and organizations to develop programs in therapeutic areas. It has collaboration and license agreement with Bayer Consumer Care AG; Novartis Pharma AG; Cancer Research UK; Cancer Research Technology Ltd; and Oxurion NV. Bicycle Therapeutics plc was incorporated in 2009 and is headquartered in Cambridge, the United Kingdom.
Contact Information
Portway Building, Blocks A & B Granta Park Great Abington, Cambridge, CB21 6GS, United Kingdom
44-1223-261-503
Market Cap
$363.76M
P/E (TTM)
-1.5
17.4
Dividend Yield
--
52W High
$10.84
52W Low
$5.03
52W Range
Rank58Top 85.6%
2.3
F-Score
Modified Piotroski Analysis
Based on 9-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2017-2025
Financial Dashboard
Q3 2025 Data
Revenue
$11.73M+338.49%
4-Quarter Trend
EPS
-$0.85+14.87%
4-Quarter Trend
FCF
-$71.85M+78.43%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
R&D Spending Accelerates Significantly Research and development expenses totaled $188.5M for nine months 2025, marking a $65.3M increase over the comparable prior period.
Operating Cash Burn Increases Net cash used in operating activities reached $(230.3M) for nine months 2025, compared to $(155.3M) used in the comparable prior period.
Collaboration Revenue Decreases Collaboration revenue fell to $24.6M for nine months 2025 from $31.6M in 2024, due to expiration of material rights and milestone timing.
Cash Position Remains Strong Cash and cash equivalents stood at $648.3M as of September 30, 2025, providing liquidity for ongoing operations and development activities.
Risk Factors
Continued Operating Losses Expected Incurred net loss of $(198.8M) for nine months 2025; expects substantial increasing losses, requiring substantial additional funding soon.
Clinical Trial Success Uncertainties Product candidates face high risk of failure in clinical trials or regulatory hurdles; success is highly uncertain for novel therapeutic modality.
Workforce Reduction Execution Risk Announced 25% workforce reduction to cut costs; incurred $4.1M severance in Q3 2025, risking loss of institutional knowledge.
Regulatory Approval Hurdles Remain Obtaining marketing approval is lengthy, expensive, and uncertain; regulatory agencies may require additional studies or impose limitations.
Outlook
Advancing Key Clinical Programs Focus remains on advancing Zelenectide pevedotin through Phase II/III trials and initiating new clinical trials for BT5528.
Implementing Major Cost Reductions Cost reduction initiatives aim to reduce planned operating costs by approximately 30% over the expected financial runway period by Q4 2025.
Expanding Discovery Pipeline Intends to utilize proprietary screening platform to identify and develop additional product candidates, expanding BRC molecule pipeline.
Cash Runway Exceeds Twelve Months Existing cash balance of $648.3M is expected to fund operating expenses and capital requirements for at least 12 months post-filing.
Peer Comparison
Revenue (TTM)
$170.44M
$73.55M
$49.80M
Gross Margin (Latest Quarter)
100.0%
100.0%
94.2%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| CRVS | $1.42B | -92.9 | -25.8% | 1.3% |
| RAPT | $959.26M | -14.8 | -61.8% | 1.6% |
| KALV | $921.96M | -4.7 | -282.0% | 44.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
46.8%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention
Deep Research
Next earnings:Apr 29, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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