---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-043014"
form_type: "8-K"
ticker: "BCYC"
cik: "0001761612"
company_name: "BICYCLE THERAPEUTICS PLC"
filed_at: "2025-05-01T23:59:59+00:00"
generated_at: "2026-05-23T00:50:30.111533+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-043014
- form_type: 8-K
- ticker: BCYC
- cik: 0001761612
- company_name: BICYCLE THERAPEUTICS PLC
- filed_at: 2025-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1761612/000110465925043014/0001104659-25-043014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1761612/000110465925043014/tm2513585d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-043014
- JSON: https://secwatch.observer/filing/0001104659-25-043014.json
- Plain text: https://secwatch.observer/filing/0001104659-25-043014.txt

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