Bicycle reports strong start to 2020 after transformative 2019
Cambridge UK life science company Bicycle Therapeutics says 2019 was a transformational year for the business and that 2020 has started in encouraging fashion.
The NASDAQ-quoted company has just reported fourth quarter and full year results to December 31.
CEO Kevin Lee said: “Last year was transformational for Bicycle as the completion of our initial public offering and the strengthening of corporate leadership enabled successful execution against our pipeline development strategy.
“This year is already off to a strong start with two new immuno-oncology collaborations designed to expand upon our wholly owned portfolio of systemic immune cell agonists and tumour-targeted immune cell agonists (TICAs™).
“We look forward to the momentum continuing as we progress multiple Bicycle Toxin Conjugates through the clinic this year and prepare to begin clinical development of our first TICA.
“We believe our anticipated near-term milestones will further demonstrate the role Bicycles could play in creating a much-needed new treatment paradigm for people living with cancer and other serious diseases.”
Cash was $92.1 million at December 31 – up from $63.4m year-on-year. That doesn’t include a $30m upfront payment from Genentech.
Net loss was $4.4m for the fourth quarter and $30.6m for the year compared to $6.6m (Q4) and $21.8m the previous year.