Bicycle Therapeutics Q3 net loss narrows to $10.5 million from $59.1 million
Bicycle Therapeutics reported third quarter 2026 results, with collaboration revenue rising to $34.1 million from $11.7 million a year earlier, mainly from recognizing the remaining revenue under its Bayer Consumer Care collaboration after termination. Operating expenses fell as workforce reductions and lower zelenectide program costs reduced R&D and G&A spending, narrowing the net loss to $10.5 million, or $(0.15) per share. Cash and cash equivalents were $469.9 million at September 30, 2026, down from $628.1 million at December 31, 2025, and the company expects cash to last into 2030.
Key points
- Collaboration revenue was $34.1 million for the quarter ended September 30, 2026, versus $11.7 million a year earlier, primarily from the Bayer Consumer Care collaboration termination.
- R&D expenses fell to $33.4 million from $58.4 million, and G&A expenses fell to $14.1 million from $18.9 million.
- Net loss was $10.5 million, or $(0.15) per share, compared with $59.1 million, or $(0.85) per share, a year earlier.
- The FDA granted Orphan Drug Designation to nuzefatide pevedotin for pancreatic cancer in September 2026; zelenectide pevedotin was deprioritized for internal development.
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2026.
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