Bicycle Therapeutics Q1 net loss $60.8M; cash $793M; Duravelo-3 trial recruiting

BICYCLE THERAPEUTICS PLC

2025-Q1 EPS reported -$0.88 revenue$9,977,000

Net loss of $60.8M ($0.88 per share) vs $26.6M ($0.62) in Q1 2024; R&D expense $59.1M (+69% YoY).
Cash and equivalents $793.0M as of March 31, 2025, down from $879.5M at Dec 31, 2024; runway into 2H 2027.
Phase 1/2 Duravelo-3 trial for zelenectide pevedotin in NECTIN4-amplified breast cancer open and recruiting.
Felix J. Baker to succeed Pierre Legault as Board chairman; Legault and Richard Kender retiring at June 17 AGM.
2 abstracts accepted for 2025 ASCO; dose selection for Duravelo-2 in mUC on track for 2H 2025.

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