---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-075435"
form_type: "8-K"
ticker: "BCYC"
cik: "0001761612"
company_name: "BICYCLE THERAPEUTICS PLC"
filed_at: "2025-08-08T23:59:59+00:00"
generated_at: "2026-05-17T16:42:45.804766+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bicycle Therapeutics Q2 net loss widens to $1.14/share; cuts workforce 30% to extend runway

## Summary
- Net loss $79.0M ($1.14/share) vs $39.8M ($0.77) a year ago; R&D spend rose 77% to $71.0M.
- Cash $721.5M at June 30, down from $879.5M at Dec 31; company expects runway through 2028 after cost realignment.
- Workforce reduction of ~30% announced; Duravelo-5 trial paused while Duravelo-4 (NECTIN4-amplified NSCLC) enrolling.
- Charles Swanton appointed to Board and Scientific Committee; new Research & Innovation Advisory Board formed.
- Key catalyst: FDA meeting planned 4Q 2025 for zelenectide pevedotin accelerated approval pathway in mUC.

## SEC filing metadata
- accession: 0001104659-25-075435
- form_type: 8-K
- ticker: BCYC
- cik: 0001761612
- company_name: BICYCLE THERAPEUTICS PLC
- filed_at: 2025-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1761612/000110465925075435/0001104659-25-075435-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1761612/000110465925075435/tm2522885d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-075435
- JSON: https://secwatch.observer/filing/0001104659-25-075435.json
- Plain text: https://secwatch.observer/filing/0001104659-25-075435.txt

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