Bicycle Therapeutics reports FY2025 results; deprioritizes lead drug zelenectide, plans 30% workforce cut

BICYCLE THERAPEUTICS PLC

Deprioritizes zelenectide in mUC; converts Duravelo-2 to randomized Phase 2 after regulatory feedback says trial design no longer acceptable for approval.
Proposes ~30% workforce reduction; expects 50% annual opex savings; cash runway extended into 2030.
Appoints Jennifer Perry as COO; Alistair Milnes as CCDO. Perry receives $550K base salary, 50% bonus target.
Cash $628.1M at Dec 31, 2025 vs $879.5M at Dec 31, 2024; FY2025 net loss $219M ($3.16/sh).
Enters 15-year contract with UK Nuclear Decommissioning Authority for reprocessed uranium supply for radioconjugates.

item 2.02 item 5.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BICYCLE THERAPEUTICS PLC reported financial results for the fourth quarter and full year ended December 31, 2025.

Period: the fourth quarter and full year ended December 31, 2025
Result: reported results

Exact text from the filing

On March 17, 2026, Bicycle Therapeutics plc (the “Company”) issued a press release announcing financial results for the fiscal quarter and the year ended December 31, 2025 and other business highlights.

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BICYCLE THERAPEUTICS PLC filing history →

Source: SEC EDGAR

accession 0001104659-26-028954

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