---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-052107"
form_type: "8-K"
ticker: "BCYC"
cik: "0001761612"
company_name: "BICYCLE THERAPEUTICS PLC"
filed_at: "2026-04-30T23:59:59+00:00"
generated_at: "2026-05-15T01:02:05.004004+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bicycle Therapeutics Q1 2026 net loss $60.8M, restructures, cuts 30% staff

## Summary
- Net loss $60.8M ($0.87/sh) flat YoY; collaboration revenue dropped to $0.9M from $10.0M.
- Cash $559.5M at March 31, 2026; expects runway into 2030 after cost cuts.
- Workforce reduced ~30%; annual operating expenses expected to drop ~50%.
- Duravelo-2 (zelenectide) converted to randomized Phase 2; Duravelo-3/4 trials discontinued.
- Phase 2 trial of nuzefatide in pancreatic cancer started; first patient dosed April 2026.

## SEC filing metadata
- accession: 0001104659-26-052107
- form_type: 8-K
- ticker: BCYC
- cik: 0001761612
- company_name: BICYCLE THERAPEUTICS PLC
- filed_at: 2026-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1761612/000110465926052107/0001104659-26-052107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1761612/000110465926052107/tm2613019d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-052107
- JSON: https://secwatch.observer/filing/0001104659-26-052107.json
- Plain text: https://secwatch.observer/filing/0001104659-26-052107.txt

## Key facts
- Earnings Releases
  BICYCLE THERAPEUTICS PLC reported financial results for the fiscal quarter ended March 31, 2026.
  - Period: the fiscal quarter ended March 31, 2026
  - Result: reported results
  source text: On April 30, 2026, Bicycle Therapeutics plc issued a press release announcing financial results for the fiscal quarter ended March 31, 2026 and other business highlights.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1761612/000110465926052107/0001104659-26-052107-index.htm

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