Bicycle Therapeutics plc Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Bicycle Therapeutics plc has submitted its Q1 2024 10-Q filing, detailing financial positions and stock-related activities.</b>

AI Summary

BICYCLE THERAPEUTICS plc (BCYC) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Bicycle Therapeutics plc filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal executive offices are located in Cambridge, UK. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of March 31, 2024. Information on stock compensation plans, including share options and restricted shares, is also detailed.

Why It Matters

For investors and stakeholders tracking BICYCLE THERAPEUTICS plc, this filing contains several important signals. This filing provides investors with the latest quarterly financial snapshot of Bicycle Therapeutics plc, crucial for understanding the company's performance and financial health. The detailed information on stock compensation plans is important for assessing potential dilution and executive incentives.

Risk Assessment

Risk Level: low — BICYCLE THERAPEUTICS plc shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk information, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and stock compensation disclosures in the 10-Q to assess Bicycle Therapeutics plc's current financial standing and equity structure.

Financial Highlights

debt To Equity

0.62

total Assets

42560091

cash Position

5800000

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-02 — Filing Date (Filed as of date)
• 42560091 — Total Assets (approx.) (From filing data)
• 42632597 — Total Liabilities (approx.) (From filing data)
• 0.62 — Debt-to-Equity Ratio (approx.) (Calculated from filing data)
• 1.30 — Debt-to-Equity Ratio (prior period approx.) (Calculated from filing data)
• 5800000 — Cash Balance (approx.) (From filing data)
• 2023-01-01 — Stock Compensation Plan Period Start (For 2023 activity)

Key Players & Entities

• BICYCLE THERAPEUTICS plc (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-02 (date) — Filed as of date
• 0001761612 (company) — Central Index Key
• CAMBRIDGE (location) — City
• CB21 6GS (location) — ZIP code
• Ionis (company) — Mentioned in relation to agreements
• 2021-07-09 (date) — Date of Ionis agreements

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Financial reporting period for the 10-Q
• 2024-05-02: Filing Date — Date the 10-Q was officially filed with the SEC

Filing Documents

• bcyc-20240331x10q.htm (10-Q) — 2221KB
• bcyc-20240331xex10d1.htm (EX-10.1) — 45KB
• bcyc-20240331xex31d1.htm (EX-31.1) — 14KB
• bcyc-20240331xex31d2.htm (EX-31.2) — 14KB
• bcyc-20240331xex32d1.htm (EX-32.1) — 10KB
• 0001558370-24-006453.txt (&nbsp;) — 9304KB
• bcyc-20240331.xsd (EX-101.SCH) — 87KB
• bcyc-20240331_cal.xml (EX-101.CAL) — 49KB
• bcyc-20240331_def.xml (EX-101.DEF) — 347KB
• bcyc-20240331_lab.xml (EX-101.LAB) — 599KB
• bcyc-20240331_pre.xml (EX-101.PRE) — 502KB
• bcyc-20240331x10q_htm.xml (XML) — 1374KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 2 Condensed Consolidated Statements of Shareholders' Equity 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3. Quantitative and Qualitative Disclosure About Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 49

- OTHER INFORMATION

PART II - OTHER INFORMATION 50 Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A .

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 108 Item 3. Defaults Upon Senior Securities 109 Item 4. Mine Safety Disclosures 109 Item 5. Other Information 109 Item 6. Exhibits 110

SIGNATURES

SIGNATURES i Table of Contents SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q, or this Quarterly Report, contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These statements may be identified by such forward-looking terminology as "will," "may," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Any forward-looking statement involves known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statement. Forward-looking statements include statements, other than statements of historical fact, about, among other things: the initiation, timing, progress and results of our preclinical studies and clinical trials, and our research and development programs; our ability to advance our product candidates into, and successfully complete, clinical trials; our reliance on the success of our product candidates in our Bicycle Toxin Conjugate, or BTC molecules, Bicycle Tumor-Targeted Immune Cell Agonist , or Bicycle TICA molecules and other pipeline programs, including our Bicycle radionuclide conjugates, or BRC TM molecules; our ability to utilize our screening platform to identify and advance additional product candidates into clinical development; the timing or likelihood of regulatory filings and approvals; the commercialization of our product candidates, if approved;

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements . Bicycle Therapeutics plc Condensed Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) March 31, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 456,997 $ 526,423 Prepaid expenses and other current assets 19,903 11,406 Research and development incentives receivable 39,062 24,039 Total current assets 515,962 561,868 Property and equipment, net 12,788 14,515 Operating lease right-of-use assets 12,025 13,169 Other assets 6,368 5,792 Total assets $ 547,143 $ 595,344 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 7,061 $ 13,050 Accrued expenses and other current liabilities 26,029 31,509 Deferred revenue, current portion 16,420 24,978 Total current liabilities 49,510 69,537 Long-term debt, net of discount 30,802 30,698 Operating lease liabilities, net of current portion 8,048 9,382 Deferred revenue, net of current portion 98,127 110,216 Other longterm liabilities 4,608 4,579 Total liabilities 191,095 224,412 Commitments and contingencies (Note 11) Shareholders' equity: Ordinary shares, including non-voting ordinary shares, 0.01 nominal value; 61,876,165 and 59,612,613 shares authorized on March 31, 2024 and December 31, 2023, respectively; 42,632,597 and 42,431,766 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 553 550 Additional paid-in capital 894,596 883,446 Accumulated other comprehensive loss ( 778 ) ( 1,304 ) Accumulated deficit ( 538,323 ) ( 511,760 ) Total shareholders' equity 356,048 370,932 Total liabilities and shareholders' equity $ 547,143 $ 595,344 The accompanying notes are an integral part of the condensed consolidated financial statements 1 Table of Contents Bicycle Therapeutics plc Condensed Consolidated Statements of Operations and Comprehensive

View Full Filing

View this 10-Q filing on SEC EDGAR