Bicycle Therapeutics Q2 net loss widens to $1.41/sh; cash >$600M after $230M raise

BICYCLE THERAPEUTICS PLC

2023-Q2 EPS reported -$2.71

Net loss $42.6M ($1.41 loss per share) vs $26.8M ($0.90) a year ago; R&D expense doubled to $39.7M.
Cash $340.4M at June 30, 2023; pro-forma over $600M including $230M July offering and $45M Bayer upfront.
Strategic collaborations with Novartis (up to $1.7B milestones) and Bayer (up to $1.7B) for Bicycle radio-conjugates.
Appointed Alethia Young as CFO effective July 17, 2023; clinical updates on BT8009 expected in 2H23.
Preclinical data for Pb-BCY20603 BRC showed complete tumor regressions in rodent xenograft studies.

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