Bicycle Therapeutics | 10-Q: FY2025 Q2 Revenue Misses Estimate at USD 2.92 M

LB filings
2025.08.08 11:15
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Revenue: As of FY2025 Q2, the actual value is USD 2.92 M, missing the estimate of USD 9.429 M.

EPS: As of FY2025 Q2, the actual value is USD -1.14, missing the estimate of USD -0.9582.

EBIT: As of FY2025 Q2, the actual value is USD -79.18 M, missing the estimate of USD -70.9 M.

Segment Revenue

  • Collaboration Revenue: $2.9 million for the three months ended June 30, 2025, compared to $9.4 million for the same period in 2024. For the six months ended June 30, 2025, collaboration revenue was $12.9 million, down from $28.9 million in 2024.

Operational Metrics

  • Net Loss: $78.9 million for the three months ended June 30, 2025, compared to $39.8 million for the same period in 2024. For the six months ended June 30, 2025, net loss was $139.7 million, compared to $66.4 million in 2024.
  • Research and Development Expenses: $71.0 million for the three months ended June 30, 2025, compared to $40.1 million for the same period in 2024. For the six months ended June 30, 2025, R&D expenses were $130.1 million, compared to $74.9 million in 2024.
  • General and Administrative Expenses: $18.5 million for the three months ended June 30, 2025, compared to $15.9 million for the same period in 2024. For the six months ended June 30, 2025, G&A expenses were $39.6 million, compared to $32.3 million in 2024.

Cash Flow

  • Net Cash Used in Operating Activities: $159.2 million for the six months ended June 30, 2025, compared to $115.5 million for the same period in 2024.
  • Net Cash Used in Investing Activities: $1.1 million for the six months ended June 30, 2025, compared to $0.4 million in 2024.
  • Net Cash (Used in) Provided by Financing Activities: - $0.1 million for the six months ended June 30, 2025, compared to $551.5 million in 2024.

Future Outlook and Strategy

  • Core Business Focus: Bicycle Therapeutics plc plans to continue the development of its product candidates, including zelenectide pevedotin, BT5528, and BT7480, with ongoing clinical trials and preclinical activities. The company expects to incur significant expenses as it advances these programs and builds its commercial capabilities.
  • Non-Core Business: The company announced cost reduction initiatives expected to reduce planned operating costs by approximately 30% over the course of its expected financial runway period, primarily through a workforce reduction of approximately 25%.
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