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Jun 30, 2023
Bicycle Q2 2023 Earnings Report
Reported financial results for the second quarter and provided recent corporate updates.
Key Takeaways
Bicycle Therapeutics reported progress across its pipeline, including advancing BT8009, BT5528, and BT7480 in ongoing clinical trials. The company entered into strategic collaborations with Novartis, Bayer, and broadened an ongoing collaboration with DKFZ in radiopharmaceuticals. They also strengthened their balance sheet with gross proceeds from a public offering and Bayer upfront payment and enhanced their leadership team with a new CFO hire.
Continued progress across pipeline, including advancing BT8009, BT5528, and BT7480 in ongoing clinical trials; clinical and regulatory updates remain on track for BT8009 in 2H23
Entered into strategic collaborations with Novartis, Bayer, and broadened an ongoing collaboration with DKFZ in radiopharmaceuticals
Strengthened balance sheet with gross proceeds of approximately $230M, from July 2023 public offering and $45M Bayer upfront payment; pro-forma cash balance is over $600M
Enhanced leadership team with new CFO hire, Alethia Young, who brings to Bicycle over 20 years of experience in the biopharma industry
Forward Guidance
Bicycle's clinical programs remain on track for updates in the second half of 2023. Initial testing of wholly owned BRCs in patients is expected by the end of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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