Bicycle Therapeutics (BCYC) AI Stock Analysis

• Market Cap: $512.87M
• Dividend Yield: N/A
• Average Volume (3M): 256.89K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: -51.13%
• EPS Growth: 7.57%
• Country: US
• Employees: 305
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.14
• Shares Outstanding: 49,868,570
• 10 Day Avg. Volume: 298,334
• 30 Day Avg. Volume: 256,890
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: -0.45
• Enterprise Value/Revenue: -12.04
• Enterprise Value/Gross Profit: 5.96
• Enterprise Value/Ebitda: 0.84
• 1Y Price Target: $25.57
• Price Target Upside: 245.54% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8

• Rating: 45 Neutral
• Price Target: $7.50 ▲(1.35% Upside)

Bicycle Therapeutics' overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and persistent losses. The technical analysis indicates a bearish long-term trend, although short-term indicators are neutral. The valuation is unfavorable due to a negative P/E ratio, reflecting the company's ongoing challenges in achieving profitability. The absence of earnings call data and corporate events means these factors did not influence the score.

Positive Factors

Proprietary Technology

The proprietary Bicycle platform provides a competitive edge in developing targeted therapies, potentially leading to innovative treatments and partnerships.

Low Leverage

Minimal leverage indicates a conservative capital structure, reducing financial risk and providing flexibility for future investments or R&D.

Collaborative Revenue Model

Collaborations with larger pharmaceutical companies provide diversified revenue streams and potential for growth through milestone payments and royalties.

Negative Factors

Declining Revenue

Significant challenges in revenue generation indicate potential issues in market penetration or product adoption, impacting long-term sustainability.

Negative Profit Margins

Ongoing losses and negative margins reflect operational inefficiencies and high costs, which may hinder future profitability and growth.

Cash Flow Challenges

Negative cash flow indicates financial strain and limits the company's ability to fund operations and invest in growth without external financing.

Bicycle Therapeutics Business Overview & Revenue Model

Company Description

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease. The company's oncology product candidates also comprise BT5528, a BTC that is in a Phase I/II clinical trial targeting EphA2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4. In addition, it is developing THR-149, a plasma kallikrein inhibitor that completed Phase II clinical trials for the treatment of diabetic macular edema; BT7480, a Bicycle tumor-targeted immune cell agonist (TICA) targeting Nectin-4 and agonizing; BT7455, an EphA2/CD137 Bicycle TICA, which is in preclinical studies; and BT1718, a BTC that target tumors, that is in Phase I/IIa clinical trial that express Membrane Type 1 matrix metalloproteinase. Further, the company collaborates with biopharmaceutical companies and organizations to develop programs in therapeutic areas, such as anti-infective, cardiovascular, ophthalmology, and respiratory indications. It has a clinical trial and license agreement with the Cancer Research Technology Limited and Cancer Research UK; research collaboration agreements with AstraZeneca, Sanofi, Oxurion, and the Dementia Discovery Fund; and discovery collaboration and license agreement with Genentech for the discovery and development of Bicycle peptides for multiple immuno-oncology targets. Bicycle Therapeutics plc was incorporated in 2009 and is headquartered in Cambridge, the United Kingdom.

How the Company Makes Money

Bicycle Therapeutics generates revenue through a combination of product development partnerships, licensing agreements, and potential milestone payments from collaborations with larger pharmaceutical companies. The company collaborates with industry partners to develop its product candidates, which can lead to upfront payments, research funding, and milestone payments as the products progress through clinical development. Additionally, Bicycle may receive royalties on sales of any products that result from these partnerships. The company also aims to capitalize on its proprietary technology to attract investments and grants that can further support its research and development efforts.

Bicycle Therapeutics Financial Statement Overview

Summary

Bicycle Therapeutics shows strong revenue growth and maintains a robust cash position. However, consistent net losses and negative cash flows from operations indicate financial challenges. The company relies heavily on external financing, typical for biotech, but it poses a risk if financing conditions change.

Income Statement

Bicycle Therapeutics shows strong revenue growth over the years, with Total Revenue increasing from $10.39M in 2020 to $25.73M in TTM. However, the company is still experiencing significant net losses, as reflected in the negative Net Profit Margin and EBIT Margin. The Gross Profit Margin has improved, but the high negative EBIT and EBITDA margins indicate operational inefficiencies.

Balance Sheet

The balance sheet is supported by a strong cash position, with substantial cash reserves exceeding total debt, resulting in negative net debt. The Debt-to-Equity ratio is low, indicating low leverage. However, the Return on Equity is negative due to ongoing net losses, which is a concern for profitability.

Cash Flow

The company has a negative Free Cash Flow, but the cash flow from financing activities remains strong, indicating reliance on external funding. The Operating Cash Flow to Net Income ratio is below ideal levels, reflecting operational challenges. However, the company’s ability to raise significant financing is a positive factor.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	19.28M	35.27M	26.98M	14.46M	11.70M	10.39M
Gross Profit	-38.99M	-137.69M	-129.52M	-67.15M	-33.18M	-22.76M
EBITDA	-274.80M	-164.89M	-183.40M	-112.96M	-64.08M	-50.68M
Net Income	-242.36M	-169.03M	-180.66M	-112.72M	-66.82M	-51.01M
Balance Sheet
Total Assets	832.18M	956.87M	595.34M	410.61M	479.79M	161.15M
Cash, Cash Equivalents and Short-Term Investments	721.45M	879.52M	526.42M	339.15M	438.68M	135.99M
Total Debt	7.20M	9.49M	44.96M	44.33M	44.34M	15.78M
Total Liabilities	163.27M	163.81M	224.41M	139.83M	133.54M	65.69M
Stockholders Equity	668.91M	793.06M	370.93M	270.78M	346.25M	95.46M
Cash Flow
Free Cash Flow	-210.62M	-165.96M	-63.56M	-105.10M	-16.82M	-18.99M
Operating Cash Flow	-208.64M	-164.72M	-60.63M	-86.11M	-14.79M	-17.79M
Investing Cash Flow	-1.91M	-1.24M	-2.93M	-18.99M	-2.03M	-1.20M
Financing Cash Flow	-31.81M	519.75M	250.03M	6.69M	320.73M	62.84M

Bicycle Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 7.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCYC, the sentiment is Neutral. The current price of 7.4 is above the 20-day moving average (MA) of 7.13, below the 50-day MA of 7.51, and below the 200-day MA of 9.64, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.19 is Neutral, neither overbought nor oversold. The STOCH value of 76.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BCYC.

Bicycle Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ETON	67 Neutral	$570.41M	-138.21	-15.65%	―	85.40%	40.95%
NBTX	56 Neutral	$738.12M	-20.38	103.70%	―	―	―
BCAX	48 Neutral	$638.93M	-6.21	―	―	―	―
BCYC	45 Neutral	$512.87M	―	-31.58%	―	-51.13%	7.57%
OPT	39 Underperform	$483.16M	-3.01	―	―	-80.09%	60.14%
KOD	35 Underperform	$834.58M	-4.17	―	―	―	-0.69%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Bicycle Therapeutics Corporate Events

Bicycle Therapeutics Expands Board with New Appointments

On September 8, 2025, Bicycle Therapeutics announced the expansion of its Board of Directors from eight to ten members, appointing Roger Dansey, M.D., and Hervé Hoppenot as new directors. Both appointees bring extensive expertise in oncology research, drug development, and commercialization, which is expected to enhance the company’s strategic initiatives in developing next-generation targeted therapies. The appointments are seen as a strategic move to strengthen the company’s leadership as it progresses with its pipeline and anticipates upcoming milestones.

Bicycle Therapeutics Appoints Charles Swanton to Board

On August 6, 2025, Bicycle Therapeutics announced the appointment of Charles Swanton, M.D., Ph.D., to its Board of Directors and Scientific Committee, effective August 12, 2025. This appointment is part of the company’s efforts to strengthen its clinical leadership and scientific advisory capabilities. Additionally, Bicycle Therapeutics reported its second-quarter 2025 financial results, highlighting significant progress in its research and development pipeline, including ongoing trials for zelenectide pevedotin in various cancers. The company also announced a strategic cost realignment, primarily through workforce reduction, to extend its financial runway into 2028, while continuing to focus on disciplined capital allocation and operational flexibility.

Bicycle Therapeutics Approves Proposals at Annual Meeting

On June 17, 2025, Bicycle Therapeutics held its annual general meeting where all proposals, including director re-elections and auditor appointments, were approved by shareholders. The meeting saw high shareholder participation, with approximately 98.63% of shares represented, reflecting strong support for the company’s governance and strategic direction.