- Bicycle Therapeutics plc reported **cash and cash equivalents of $648.3 million** as of **September 30, 2025**, excluding a **$38.2 million** U.K. R&D tax credit received in October 2025, and anticipates a financial runway into **2028**.  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:1]** 
- The company expects to provide an update on dose selection for the Phase 2/3 Duravelo-2 pivotal trial and zelenectide pevedotin's potential approval pathway in metastatic urothelial cancer in the **first quarter of 2026**, following feedback from multiple regulatory agencies.  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:1]** 
- For the three months ended September 30, 2025, the company reported a **net loss of $59.1 million**, or **$(0.85)** basic and diluted net loss per share.  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:4]** **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]** 

| Metric | Q3 2024 | Q3 2025 |
|---|---|---|
| R&D Expenses ($USD Thousands) | **$48,265**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  | **$58,426**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  |
| G&A Expenses ($USD Thousands) | **$18,257**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  | **$18,859**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  |
| Net Loss ($USD Thousands) | **$(50,802)**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  | **$(59,100)**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  |
| Net Loss Per Share ($USD) | **$(0.74)**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  | **$(0.85)**  **[1761612_0001104659-25-104004_tm2529754d1_ex99-1.htm:6]**  |

BICYCLE THERAPEUTICS (BCYC)