{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-028954","form_type":"8-K","ticker":"BCYC","cik":"0001761612","company_name":"BICYCLE THERAPEUTICS PLC","filed_at":"2026-03-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.102867+00:00","generated_at":"2026-05-15T10:37:43.491665+00:00","sec_items":["2.02","5.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Bicycle Therapeutics reports FY2025 results; deprioritizes lead drug zelenectide, plans 30% workforce cut","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-028954","json":"https://secwatch.observer/filing/0001104659-26-028954.json","markdown":"https://secwatch.observer/filing/0001104659-26-028954.md","text":"https://secwatch.observer/filing/0001104659-26-028954.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1761612/000110465926028954/0001104659-26-028954-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1761612/000110465926028954/tm268887d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T10:37:43.491665+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}