BCYC Stock — Bicycle Therapeutics plc: Cash, EV, Pipeline

Share price

$3.65

Market cap

$255.5M

Cash

$510.1M

Enterprise value

-$254.6M

Balance sheet

Cash	$510.1M
Debt	$0.0M
Net cash	$510.1M
Enterprise value	-$254.6M
Basic shares	69.8M shares
Fully diluted shares	69.8M shares
Fully diluted market cap	$254.8M
Cash per share	$7.31

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

nuzefatide pevedotin

Phase 2 · Active Modality: Bicycle Drug Conjugate (BDC): Bicycle peptide + valine-citrulline cleavable linker + MMAE cytotoxin payload

Aliases BT5528

Target EphA2

Indications

Advanced solid tumors incl. metastatic urothelial cancer and ovarian cancer (Phase 1)
Recurrent metastatic pancreatic ductal adenocarcinoma (Phase 2)

Status note Most advanced internal candidate per this filing; retained focus asset of Mar 2026 strategic reprioritization (~30% workforce reduction). Fast Track Designation for previously treated locally advanced/metastatic urothelial cancer. Phase II pancreatic trial commenced recruiting Q1 2026; nuzefatide + nivolumab combo in metastatic urothelial cancer under evaluation.

zelenectide pevedotin

Phase 2 · Active Modality: Bicycle Drug Conjugate (BDC)

Target Nectin-4

Indications

Metastatic urothelial cancer (Phase 2)
NECTIN4-amplified advanced breast cancer and NSCLC (Phase 1)

Status note Mar 2026 reprioritization: Phase II/III registrational Duravelo-2 being converted to randomized Phase II; program deprioritized for internal development while company evaluates next steps. Phase I/II trials in NECTIN4-amplified breast cancer and NSCLC being discontinued (enrollment closed; enrolled patients complete treatment).

BT7480

Phase 1 · Active Modality: Bicycle Tumor-Targeted Immune Cell Agonist (Bicycle TICA)

Target Nectin-4 / CD137 agonism

Indications

Solid tumors (Nectin-4 expressing) (Phase 1)

Status note Company-sponsored Phase I/II ongoing; after reporting certain data in H1 2026, company will no longer develop BT7480 internally and intends to explore partnership opportunities.

BT1702

Preclinical · Active Modality: Bicycle Radioconjugate (BRC) theranostic, 212Pb radioisotope payload

Target MT1-MMP

Indications

Oncology (indications not specified) (Preclinical)

Status note IND-enabling activities ongoing.

Per-asset detail extracted from the 10-Q filed 2026-07-30. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Baker Bros. Advisors	10,885,357	no change	0.23%	2026-08-14
ADAR1 Capital Management	50,638	-20,660	0.01%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

BCYC — Bicycle Therapeutics plc

Balance sheet

Price history

Pipeline assets

Institutional holders