Baker Bros. Advisors LP Discloses Significant Stake in Bicycle Therapeutics

TL;DR

**Baker Bros. is still a major player in Bicycle Therapeutics, signaling bullish sentiment.**

AI Summary

Baker Bros. Advisors LP, a prominent investment firm, filed an SC 13G on February 12, 2024, disclosing its ownership of Ordinary Shares in Bicycle Therapeutics plc (NASDAQ: BCYC). This filing indicates that as of January 31, 2024, Baker Bros. Advisors LP holds a significant stake, signaling their continued confidence in the pharmaceutical company. This matters to investors because Baker Bros. is known for its deep expertise in the biotech sector, and their substantial holding could be seen as a strong vote of confidence in Bicycle Therapeutics' future prospects and drug pipeline.

Why It Matters

Baker Bros. Advisors LP's continued substantial investment in Bicycle Therapeutics plc suggests a positive outlook from a sophisticated biotech investor, potentially influencing other investors' perceptions of the company's value and future growth.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional holding, which generally reduces volatility and provides a degree of confidence.

Analyst Insight

A smart investor would view Baker Bros. Advisors LP's continued significant holding as a positive signal, potentially prompting further research into Bicycle Therapeutics plc's pipeline and financial health, given Baker Bros.' expertise in the biotech sector.

Key Numbers

• 088786108 — CUSIP Number (identifies Bicycle Therapeutics plc's Ordinary Shares)
• £0.01 — nominal value per share (value of Bicycle Therapeutics plc's Ordinary Shares)
• 20240131 — Date of Event (date requiring the filing of this statement)
• 20240212 — Filing Date (date the SC 13G was filed with the SEC)

Key Players & Entities

• Baker Bros. Advisors LP (company) — reporting person and investment firm
• Bicycle Therapeutics plc (company) — subject company, pharmaceutical preparations
• Felix J. Baker (person) — group member of Baker Bros. Advisors (GP) LLC
• Julian C. Baker (person) — group member of Baker Bros. Advisors (GP) LLC
• 03 Life Sciences (company) — organization name associated with Bicycle Therapeutics plc

Forward-Looking Statements

• Baker Bros. Advisors LP will maintain a significant stake in Bicycle Therapeutics plc. (Baker Bros. Advisors LP) — high confidence, target: next 12 months

FAQ

Key Financial Figures

• $0.01 — o purchase ADS for an exercise price of $0.01 per ADS (“European Call Options&r

Filing Documents

• tm245479d1_sc13g.htm (SC 13G) — 99KB
• tm245479d1_ex99-1.htm (EX-99.1) — 6KB
• 0001104659-24-014626.txt ( ) — 107KB

(a)

Item 1(a) Name of Issuer: Bicycle Therapeutics plc (the “Issuer”)

(b)

Item 1(b) Address of Issuer’s Principal Executive Offices: Blocks A & B, Portway Building, Granta Park Great Abington, Cambridge, United Kingdom CB21 6GS

(a)

Item 2(a) Name of Person Filing: This Schedule 13G is being filed jointly by Baker Bros. Advisors LP (the “Adviser”), Baker Bros. Advisors (GP) LLC (the “Adviser GP”), Felix J. Baker and Julian C. Baker (collectively, the “Reporting Persons”).

(b)

Item 2(b) Address of Principal Business Office or, if None, Residence: The business address of each of the Reporting Persons is: c/o Baker Bros. Advisors LP 860 Washington Street, 3 rd Floor New York, NY 10014 (212) 339-5690

(c)

Item 2(c) Citizenship: The Adviser is a limited partnership organized under the laws of the State of Delaware. The Adviser GP is a limited liability company organized under the laws of the State of Delaware. The citizenship of each of Julian C. Baker and Felix J. Baker is the United States of America.

(d)

Item 2(d) Title of Class of Securities: Ordinary Shares, nominal value £0.01 per share (“Ordinary Shares”).

(e)

Item 2(e) CUSIP Number: 088786108 Item 3 If this statement is filed pursuant to §§240.13d-1(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under Section 15 of the Exchange Act. (b) Bank as defined in section 3(a)(6) of the Exchange Act. (c) Insurance company as defined in section 3(a)(19) of the Exchange Act. (d) Investment company registered under section 8 of the Investment Company Act of 1940. (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G). (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940. (j) Group, in accordance with Rule 13d-1(b)(1)(ii)(J). Item 4 Items 5 through 9 and 11 of each of the cover pages to this Schedule 13G are incorporated herein by reference. Set forth below are the securities of the Issuer directly held by each of 667, L.P. (“667”) and Baker Brothers Life Sciences, L.P. (“Life Sciences”, and together with 667, the “Funds”) on January 31, 2024 which may be deemed to be indirectly beneficially owned by the Reporting Persons and which include 825,418 Ordinary Shares, 2,050,180 Ordinary Shares held in the form of 2,050,180 American Depositary Shares of the Issuer (“ADS”) and 1,948,000 ADS issuable upon the exercise of 19,480 European-style call options to purchase ADS for an exercise price of $0.01 per ADS (“European Call Options”). Such ownership below does not include Ordinary Shares that may be acquired upon conversion of Non-Voting Ordinary Shares (“Non-Voting Ordinary Shares”), which are convertible into Ordin

View Full Filing

View this SC 13G filing on SEC EDGAR