• Bicycle Therapeutics posted a Q2 net loss of $50.3 million, narrowing from $79.0 million a year earlier; loss per share improved to $0.72 from $1.14.
• R&D expense fell 41.97% to $41.2 million; G&A expense dropped 24.32% to $14.0 million, following a March 2026 workforce reduction.
• Revenue slid to $629,000 from $2.92 million; cash and cash equivalents declined to $510.1 million at June 30 from $628.1 million at year-end.
• Initiated a Phase 2 trial of nuzefatide pevedotin in recurrent pancreatic ductal adenocarcinoma, dosing the first patient in April at 8 mg/m² Q2W.
• Management reiterated plans to start a Phase 1 trial for BT1702, an MT1-MMP-targeting Bicycle Radioconjugate, in 2027.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Bicycle Therapeutics plc published the original content used to generate this news brief via Business Wire (Ref. ID: 20260730302807) on July 30, 2026, and is solely responsible for the information contained therein.