Bicycle Therapeutics reports Q2 net loss $26.8M, cash $372.8M; Genentech expands collaboration

BICYCLE THERAPEUTICS PLC

2022-Q2 EPS reported -$1.84 revenue$8,238,000

Net loss $26.8M ($0.90/share) vs $17.9M ($0.74) in Q2 2021, driven by higher R&D and G&A costs.
Cash $372.8M as of June 30, 2022, down from $438.7M; expected runway into 2025.
Genentech exercised option to expand immuno-oncology collaboration, triggering $10M payment to Bicycle in Q3 2022.
BT8009 Phase I interim data: 50% ORR in urothelial cancer at 5.0mg/m2 weekly; four of five responders on therapy >24 weeks.
Expansion cohorts of BT5528 Phase I/II trial initiated; BT7480 Phase I/II poster presented at ASCO 2022.

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