Bicycle Therapeutics Q1 revenue drops after partnership terminations

Bicycle Therapeutics

30/04/2026 12:14

Overview

UK pharmaceutical company's Q1 collaboration revenue declined sharply due to terminated partnerships

Net loss for Q1 was little changed from last year

Company had previously announced 30% workforce reduction and strategic reprioritization to cut costs and extend cash runway

Outlook

Company expects cash runway to extend into 2030 following strategic reprioritization

Bicycle Therapeutics is focusing resources on next-generation therapeutics, including nuzefatide

Company converting Duravelo-2 trial to randomized Phase 2 and evaluating regulatory pathways for zelenectide

Result Drivers

PIPELINE PROGRESS - Co cited promising clinical and preclinical data for nuzefatide pevedotin and other pipeline assets as supporting continued development focus

STRATEGIC REPRIORITIZATION - Co initiated a strategic reprioritization and 30% workforce reduction to focus resources on core programs and extend cash runway

Company press release: ID:nBw9qgW3ba

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$60.83 mln
Q1 Basic EPS
-$0.87
Q1 Operating Expenses
$66.37 mln
Q1 Operating Incom
-$65.48 mln
Q1 Pretax Profit
-$60.65 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Bicycle Therapeutics PLC is $12.00, about 153.7% above its April 29 closing price of $4.73

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)