---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055781"
form_type: "8-K"
ticker: "BCYC"
cik: "0001761612"
company_name: "BICYCLE THERAPEUTICS PLC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:35:39.404978+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bicycle Therapeutics Q1 net loss $39.1M; cash $293.8M; Novartis deal advances BRC pipeline

## Summary
- Net loss of $39.1M ($1.30 per share) vs $27.6M ($0.93 per share) in Q1 2022.
- R&D expenses rose to $32.2M from $14.3M, driven by BT8009, BT5528, and TICA programs.
- Cash $293.8M at March 31, 2023 (excluding $50M Novartis upfront); runway into 2025.
- Entered Novartis collaboration for Bicycle radio-conjugates; eligible for up to $1.7B milestones.
- BT8009 Phase I dose escalation showed median duration of response ~14 months in urothelial cancer.

## SEC filing metadata
- accession: 0001104659-23-055781
- form_type: 8-K
- ticker: BCYC
- cik: 0001761612
- company_name: BICYCLE THERAPEUTICS PLC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1761612/000110465923055781/0001104659-23-055781-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1761612/000110465923055781/tm2314590d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055781
- JSON: https://secwatch.observer/filing/0001104659-23-055781.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055781.txt

## Key facts
- Earnings Releases
  BICYCLE THERAPEUTICS PLC reported financial results for the first quarter ended March 31, 2023.
  - Period: the first quarter ended March 31, 2023
  - Result: reported results
  source text: Bicycle Therapeutics plc (NASDAQ: BCYC), a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide ( Bicycle ® ) technology, today reported financial results for the first quarter ended March 31, 2023 and provided recent corporate updates.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1761612/000110465923055781/0001104659-23-055781-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.