UK's Bicycle Therapeutics Q3 loss narrows as expenses fall

Bicycle Therapeutics

29/10/2026 11:09

Overview
UK pharmaceutical firm's Q3 collaboration revenue rose sharply, driven by Bayer agreement termination
Net loss for Q3 narrowed yr/yr due to lower R&D and G&A expenses post workforce reductions
Company received FDA Orphan Drug Designation for nuzefatide pevedotin in pancreatic cancer

Outlook
Company expects cash runway into 2030
Bicycle Therapeutics expects to provide nuzefatide pevedotin trial updates in 2027
Initiation of first BT1702 radioligand clinical trial expected in 2H 2027

Result Drivers
BAYER COLLABORATION TERMINATION - Co said Q3 collaboration revenue increase was due to recognition of remaining revenue after Bayer agreement ended
LOWER EXPENSES - Co attributed reduced R&D and G&A expenses to decreased clinical program costs, personnel-related costs and share-based compensation following workforce reductions

Company press release: ID:nBw7Q9RBKa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Net Loss
 
$10.48 mln
 
Q3 Loss Per Basic Share
 
$0.15
 
Q3 Operating Expenses
 
$47.53 mln
 
Q3 Operating Incom
 
-$13.48 mln
 
Q3 Pretax Loss
 
$9.31 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "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 $11.00, about 183.5% above its October 28 closing price of $3.88

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(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.)