UK's Bicycle Therapeutics Q3 loss narrows as expenses fall
BCYC•Bicycle Therapeutics' third-quarter net loss narrowed year over year as expenses fell, while collaboration revenue rose sharply after the termination of its Bayer agreement. The company reported a $10.48 million net loss and expects its cash runway to extend into 2030.
1. Quarterly results
Bicycle Therapeutics reported a third-quarter net loss of $10.48 million, or $0.15 per basic share, and operating expenses of $47.53 million. The company said lower research and development and general and administrative expenses reflected decreased clinical program costs, personnel-related costs and share-based compensation following workforce reductions.
2. Pipeline and outlook
Collaboration revenue rose sharply after the Bayer agreement ended, as the company recognized the remaining revenue. Bicycle Therapeutics said it expects cash runway into 2030, trial updates for nuzefatide pevedotin in 2027 and the first BT1702 radioligand clinical trial to begin in the second half of 2027. Nuzefatide pevedotin received FDA Orphan Drug Designation for pancreatic cancer.
