# Bicycle Therapeutics plc: overview

BCYC · Nasdaq · CIK 1761612 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/bcyc.md) · [Financials](/companies/bcyc/financials.md) · [Filings](/companies/bcyc/filings.md) · [Insiders](/companies/bcyc/insiders.md)

Latest reported revenue: [$34.1m](/filings/0001104659-26-119864.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 29, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001104659-26-119864).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [3.7 d](/filings/0001104659-26-028971.md) | [10.0](/filings/0001104659-26-052117.md) | [2.9](/filings/0001104659-26-088457.md) | [11.7](/filings/0001104659-26-119864.md) | [48.0 d](/filings/0001104659-26-028971.md) | [0.9](/filings/0001104659-26-052117.md) | [0.6](/filings/0001104659-26-088457.md) | [34.1](/filings/0001104659-26-119864.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(1824.8%) d](/filings/0001104659-26-028971.md) | [(703.7%)](/filings/0001104659-26-052117.md) | [(2965.8%)](/filings/0001104659-26-088457.md) | [(558.6%)](/filings/0001104659-26-119864.md) | [(51.5%) d](/filings/0001104659-26-028971.md) | [(7382.4%)](/filings/0001104659-26-052117.md) | [(8673.9%)](/filings/0001104659-26-088457.md) | [(39.6%)](/filings/0001104659-26-119864.md) |
| Net margin | % | [(1398.4%) d](/filings/0001104659-26-028971.md) | [(608.9%)](/filings/0001104659-26-119864.md) | [(2703.8%)](/filings/0001104659-26-119864.md) | [(503.7%)](/filings/0001104659-26-119864.md) | [(42.0%) d](/filings/0001104659-26-028971.md) | [(6857.4%)](/filings/0001104659-26-119864.md) | [(8002.1%)](/filings/0001104659-26-119864.md) | [(30.8%)](/filings/0001104659-26-119864.md) |
| Diluted EPS | $ per share | not reported | [(0.88)](/filings/0001104659-26-052117.md) | [(1.14)](/filings/0001104659-26-088457.md) | [(0.85)](/filings/0001104659-26-119864.md) | not reported | [(0.87)](/filings/0001104659-26-052117.md) | [(0.72)](/filings/0001104659-26-088457.md) | [(0.15)](/filings/0001104659-26-119864.md) |
| Free cash flow | $m | [(9.8) d](/filings/0001104659-26-028971.md) | [(87.0)](/filings/0001104659-26-052117.md) | [(73.3) d](/filings/0001104659-26-088457.md) | [(71.8) d](/filings/0001104659-26-119864.md) | [(19.9) d](/filings/0001104659-26-028971.md) | [(66.6)](/filings/0001104659-26-052117.md) | [(49.9) d](/filings/0001104659-26-088457.md) | [(40.6) d](/filings/0001104659-26-119864.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [11.7](/filings/0001558370-24-001324.md) | [14.5](/filings/0001558370-25-001438.md) | [27.0](/filings/0001104659-26-028971.md) | [35.3](/filings/0001104659-26-028971.md) | [72.6](/filings/0001104659-26-028971.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(561.0%)](/filings/0001558370-24-001324.md) | [(806.6%)](/filings/0001558370-25-001438.md) | [(704.1%)](/filings/0001104659-26-028971.md) | [(595.0%)](/filings/0001104659-26-028971.md) | [(340.4%)](/filings/0001104659-26-028971.md) |
| Net margin | % | [(571.2%)](/filings/0001558370-24-001324.md) | [(779.3%)](/filings/0001558370-25-001438.md) | [(669.7%)](/filings/0001104659-26-028971.md) | [(479.2%)](/filings/0001104659-26-028971.md) | [(301.7%)](/filings/0001104659-26-028971.md) |
| Diluted EPS | $ per share | [(2.67)](/filings/0001558370-24-001324.md) | [(3.80)](/filings/0001558370-25-001438.md) | [(5.08)](/filings/0001104659-26-028971.md) | [(2.90)](/filings/0001104659-26-028971.md) | [(3.16)](/filings/0001104659-26-028971.md) |
| Free cash flow | $m | [(16.8)](/filings/0001558370-24-001324.md) | [(105)](/filings/0001558370-25-001438.md) | [(63.6)](/filings/0001104659-26-028971.md) | [(166)](/filings/0001104659-26-028971.md) | [(252)](/filings/0001104659-26-028971.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/bcyc/insiders.md)

| Date | Insider | Role | Transaction | Shares | Reported price | Value | Filing |
| --- | --- | --- | --- | ---: | ---: | ---: | --- |
| 2020-07-15 | [Glaxosmithkline plc](/insiders/1131399.md) | 10% owner | Sale (S) | 78 | $19.25 | $1.5k | [Form 4](/filings/0001387131-20-008376.md) |
| 2020-07-15 | [Glaxosmithkline plc](/insiders/1131399.md) | 10% owner | Sale (S) | 3,069 | $19.4016 | $59.5k | [Form 4](/filings/0001387131-20-008376.md) |
| 2020-07-14 | [Glaxosmithkline plc](/insiders/1131399.md) | 10% owner | Sale (S) | 1,597 | $19.274 | $30.8k | [Form 4](/filings/0001387131-20-008376.md) |
| 2019-05-28 | [Glaxosmithkline plc](/insiders/1131399.md) | Director, 10% owner | Purchase (P) | 385,714 | $14.00 | $5.4m | [Form 4](/filings/0000903423-19-000235.md) |
| 2019-05-28 | [Novartis Bioventures Ltd](/insiders/1297709.md) | 10% owner | Purchase (P) | 168,630 | $14.00 | $2.4m | [Form 4](/filings/0001104659-19-032920.md) |

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BAKER BROS. ADVISORS LP](/funds/1263508.md) | 2026-06-30 | $46.2m | 10,885,357 |  | Unchanged |
| [FCPM III SERVICES B.V.](/funds/2013410.md) | 2026-06-30 | $14.7m | 3,468,430 |  | Unchanged |
| [ARMISTICE CAPITAL, LLC](/funds/1601086.md) | 2026-06-30 | $14.4m | 3,398,000 |  | Unchanged |
| [Long Focus Capital Management, LLC](/funds/1602716.md) | 2026-06-30 | $14.0m | 3,310,687 |  | Unchanged |
| [RENAISSANCE TECHNOLOGIES LLC](/funds/1037389.md) | 2026-06-30 | $6.5m | 1,533,400 |  | Added +554,100 |
| [GSK plc](/funds/1131399.md) | 2026-06-30 | $6.5m | 1,529,561 |  | Unchanged |
| [MARSHALL WACE, LLP](/funds/1318757.md) | 2026-06-30 | $3.4m | 797,940 |  | Added +420,605 |
| [Qube Research & Technologies Ltd](/funds/1729829.md) | 2026-06-30 | $3.3m | 775,567 |  | Added +466,950 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $2.8m | 667,269 |  | Added +48,942 |
| [SCHRODER INVESTMENT MANAGEMENT GROUP](/funds/1086619.md) | 2026-06-30 | $2.6m | 615,833 |  | Unchanged |

## Recent filings

[All 644 filings](/companies/bcyc/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 07:12 ET | [10-Q](/filings/0001104659-26-119864.md) | Quarterly report, period 2026-09-30 | 0001104659-26-119864 |
| 2026-10-29 | 07:05 ET | [8-K](/filings/0001104659-26-119858.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-119858 |
| 2026-08-20 | 16:05 ET | [8-K](/filings/0001104659-26-099221.md) | 5.02 Departure or appointment of officers or directors | 0001104659-26-099221 |
| 2026-07-30 | 07:10 ET | [10-Q](/filings/0001104659-26-088457.md) | Quarterly report, period 2026-06-30 | 0001104659-26-088457 |
| 2026-07-30 | 07:05 ET | [8-K](/filings/0001104659-26-088455.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-088455 |
| 2026-06-18 | 08:21 ET | [8-K](/filings/0001104659-26-075451.md) | 5.07 Shareholder vote results | 0001104659-26-075451 |
| 2026-05-21 | 17:05 ET | [8-K](/filings/0001104659-26-065231.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-065231 |
| 2026-04-30 | 07:10 ET | [10-Q](/filings/0001104659-26-052117.md) | Quarterly report, period 2026-03-31 | 0001104659-26-052117 |
| 2026-04-30 | 07:05 ET | [8-K](/filings/0001104659-26-052107.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-052107 |
| 2026-04-22 | 16:05 ET | [DEF 14A](/filings/0001104659-26-046806.md) | Proxy statement, period 2026-06-17 | 0001104659-26-046806 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001104659-26-028971.md), filed Mar 17, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, has been scored from the reported figures. [See the target](/leagues/2026q3/targets/e7f5d99b-1d6b-40f8-81c6-bf57c37ea8af)

## About the filer

- CIK: 1761612
- Tickers: BCYC
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: X0
- Filer category: Non-accelerated filer<br>Smaller reporting company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 07:25 ET. No prices; not investment advice.