Bicycle Therapeutics Q1 net loss narrows to $26.6M; cash $457M; Phase 2/3 trial initiated

BICYCLE THERAPEUTICS PLC

2024-Q1 EPS reported -$0.62 revenue$19,530,000

Cash and equivalents $457.0M as of Mar 31, 2024, down from $526.4M at Dec 31, 2023.
Net loss of $26.6M ($0.62 per share) vs $39.1M ($1.30) in Q1 2023; improvement helped by $8.2M retroactive UK R&D tax credits.
R&D expenses rose to $34.9M from $32.2M YoY, driven by BT8009 clinical program costs.
Initiated Phase 2/3 Duravelo-2 registrational trial for BT8009 in metastatic urothelial cancer; enrollment ongoing.
Mike Hannay promoted to Chief Product and Supply Chain Officer; multiple clinical data readouts expected in 2H 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BICYCLE THERAPEUTICS PLC reported first quarter ended March 31, 2024 results: net income Net loss was $26.6 million, EPS $(0.62) basic and diluted net loss per share.

Period: first quarter ended March 31, 2024
Net income: Net loss was $26.6 million
EPS: $(0.62) basic and diluted net loss per share
Result: reported results

Exact text from the filing

Net loss was $26.6 million, or $(0.62) basic and diluted net loss per share, for the three months ended March 31, 2024

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Source: SEC EDGAR

accession 0001104659-24-055981

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