Bicycle Therapeutics reports Q3 net loss $50.8M; strong cash $890.9M; 45% ORR for zelenectide pevedotin

BICYCLE THERAPEUTICS PLC

2024-Q3 EPS reported -$2.15 revenue$31,567,000

Net loss $50.8M ($0.74/shr) in Q3 2024 vs $49.9M ($1.26/shr) in Q3 2023; R&D spend $48.3M, up from $39.9M.
Cash $890.9M as of Sep 30, 2024, up from $526.4M at Dec 31, 2023; expects cash runway into 2H 2027; $31.7M UK tax credit received Oct 2024.
Zelenectide pevedotin (Nectin-4 BTC) monotherapy: 45% ORR in mUC (n=38), median DOR 11.1 months; differentiated safety profile; Phase 2/3 Duravelo-2 enrolling.
BT5528 (EphA2 BTC) monotherapy: 45% ORR in mUC at 6.5 mg/m2 Q2W (n=11); low peripheral neuropathy rates; combo with nivolumab expected 2025.
First human imaging data for BRC targeting MT1-MMP validates target; selected EphA2 as second BRC target; signed LOI with Eckert & Ziegler.

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