--- title: "Bicycle Therapeutics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 887 K" type: "News" locale: "en" url: "https://longbridge.com/en/news/284754275.md" datetime: "2026-04-30T11:07:25.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284754275.md) - [en](https://longbridge.com/en/news/284754275.md) - [zh-HK](https://longbridge.com/zh-HK/news/284754275.md) --- # Bicycle Therapeutics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 887 K Revenue: As of FY2026 Q1, the actual value is USD 887 K, missing the estimate of USD 7.499 M. EPS: As of FY2026 Q1, the actual value is USD -0.87, missing the estimate of USD -0.6678. EBIT: As of FY2026 Q1, the actual value is USD -70.31 M. #### Cash and Cash Equivalents Cash and cash equivalents for Bicycle Therapeutics plc were $559.5 million as of March 31, 2026, a decrease from $628.1 million as of December 31, 2025, primarily due to cash used in operations, including clinical program activities. #### Collaboration Revenue Collaboration revenue was $0.9 million for the three months ended March 31, 2026, which represents a decrease of $9.1 million compared to $10.0 million for the same period in 2025, primarily due to the termination of collaboration programs with Genentech and Novartis. #### Research and Development (R&D) Expenses R&D expenses for Bicycle Therapeutics plc were $48.9 million for the three months ended March 31, 2026, a decrease of $10.2 million from $59.1 million for the three months ended March 31, 2025. This reduction was mainly attributed to reduced clinical program expenses for zelenectide and lower share-based compensation due to a workforce reduction, partially offset by lower U.K. R&D tax credits. #### General and Administrative (G&A) Expenses G&A expenses for Bicycle Therapeutics plc were $17.5 million for the three months ended March 31, 2026, a decrease of $3.6 million from $21.1 million for the three months ended March 31, 2025. This reduction was primarily due to decreased professional and consulting fees and lower share-based compensation resulting from the workforce reduction. #### Total Operating Expenses Total operating expenses for Bicycle Therapeutics plc were $66.369 million for the three months ended March 31, 2026, compared to $80.181 million for the three months ended March 31, 2025. #### Loss from Operations Loss from operations for Bicycle Therapeutics plc was - $65.482 million for the three months ended March 31, 2026, an improvement from - $70.204 million for the three months ended March 31, 2025. #### Net Loss Bicycle Therapeutics plc reported a net loss of - $60.825 million for the three months ended March 31, 2026, compared to a net loss of - $60.764 million for the three months ended March 31, 2025. #### Working Capital Working capital for Bicycle Therapeutics plc was $570.246 million as of March 31, 2026, down from $625.901 million as of December 31, 2025. #### Total Assets Total assets for Bicycle Therapeutics plc were $652.396 million as of March 31, 2026, compared to $717.597 million as of December 31, 2025. #### Total Shareholders’ Equity Total shareholders’ equity for Bicycle Therapeutics plc was $554.320 million as of March 31, 2026, compared to $609.977 million as of December 31, 2025. #### Operational Highlights Bicycle Therapeutics plc’s nuzefatide pevedotin Phase 1⁄2 data showed a 40% confirmed overall response rate (ORR) in EphA2+ tumors and a 100% confirmed ORR in MMAE-naïve EphA2+ tumors, with the combination therapy being generally well tolerated. A Phase 2 clinical trial for nuzefatide in pancreatic ductal adenocarcinoma (PDAC) began enrollment in March 2026, with the first patient dosed in April 2026. Initial dose selection data from the Duravelo-2 trial for zelenectide pevedotin demonstrated a physician-assessed ORR of 65% and a blinded independent central review (BICR) confirmed ORR of 58% (62% with an additional confirmed response), showing a differentiated safety profile. Bicycle Therapeutics plc initiated a strategic reprioritization in March 2026, including discontinuing the Phase 1⁄2 Duravelo-3 and Duravelo-4 trials for zelenectide, and announced a workforce reduction of approximately 30%. #### Outlook/Guidance Bicycle Therapeutics plc anticipates annual operational savings from the workforce reduction and strategic reprioritization, which are expected to reduce annual operating expenses by approximately 50%. These actions are projected to extend the company’s cash runway by approximately two years, into 2030. The Duravelo-2 trial is being converted into a randomized Phase 2 trial, with initial dose selection data to be presented at the 2026 ASCO Annual Meeting. ### Related Stocks - [BCYC.US](https://longbridge.com/en/quote/BCYC.US.md) ## Related News & Research - [Share Buyback Transaction Details May 28 – June 3, 2026 | WTKWY Stock News](https://longbridge.com/en/news/288684932.md) - [Gamehaus Holdings Inc. Announces Unaudited Financial Results for the Third Quarter of Fiscal 2026 Ended March 31, 2026 | GMHS Stock News](https://longbridge.com/en/news/289035965.md) - [Prologis to Announce Second Quarter 2026 Results July 16, 2026 | PLD Stock News](https://longbridge.com/en/news/288770029.md) - [Guidewire Announces Third Quarter Fiscal Year 2026 Financial Results | GWRE Stock News](https://longbridge.com/en/news/288766246.md) - [Owlet delays 2026 annual meeting to Aug. 12, sets June 15 record and proposal deadlines](https://longbridge.com/en/news/288905869.md)