Bicycle beats revenue expectations and excited about new cancer drug prospects
A source tells Business Weekly that Bicycle, whose global HQ is at Granta Park, is “excited about regulatory feedback across various geographies” over potential advancement of its pipeline with trials for zelenectide pevedotin targeting Nectin-4 associated cancers which span urothelial, breast, lung, bladder, gastric, pancreatic, ovarian, and head & neck versions of the disease.
Dose selection from the Phase 2/3 Duravelo-2 trial and an update on the potential approval pathway are expected in the first quarter of 2026 as Bicycle seeks feedback from multiple regulatory agencies.
Looking at the crunch bottom line, Bicycle reported Q3 2025 revenue of $11.73 million, comfortably outstripping the consensus estimate of $8.25m, for the quarter to end-September.
The company has also considerably strengthened its clinical leadership team with key appointments to its Board of Directors and Research and Innovation Advisory Board.
Bicycle ended Q3 with cash and equivalents of $648.3m - and that excluded a $38.2m UK R & D tax credit received in October.
The transatlantic business is pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle®) technology.
CEO Kevin Lee says: “We are currently seeking broad regulatory feedback to make an informed decision on our path forward with zelenectide pevedotin in metastatic urothelial cancer. We look forward to providing updates in the first quarter of 2026.
“We have also been executing across the rest of our pipeline with the goal of helping patients live longer and live well. The development of zelenectide pevedotin for multiple Nectin-4 associated cancers is ongoing, with the Phase 1/2 Duravelo-3 trial for NECTIN4-amplified breast cancer and the Phase 1/2 Duravelo-4 trial for NECTIN4-amplified non-small cell lung cancer open and actively enrolling.
“Additionally, we were pleased to welcome additional esteemed global oncology leaders to the Bicycle Board of Directors and to our Research and Innovation Advisory Board to further strengthen our innovation and strategic growth.”
The company continues to advance its emerging Bicycle® Radioconjugate (BRC®) pipeline, with initial EphA2 human imaging data expected in the first half of 2026 and the initiation of the first company-sponsored clinical trial also slated for next year.
In fact it highlights terrific progress with solutions right across its spectrum of activities and Business Weekly expects to continue bringing readers some exceptionally positive news from the company as the new year unfolds.
The calibre of the latest recruits to its major leadership teams also bodes well for future progress. The board is strengthened with the addition of Charles Swanton, Roger Dansey and Hervé Hoppenot. Dr. Swanton leads the Cancer Evolution and Genome Instability Laboratory at the Francis Crick Institute. Dr. Dansey currently serves on the Boards of Directors of Inovio Inc. and Ottimo Pharma. Hervé Hoppenot is an adviser to the CEO and serves on the Board of Incyte after serving 11 years as its chairman and CEO. He is also Chairman of the Board of Maze Therapeutics.
Bicycle has further expanded its Research and Innovation Advisory Board with the appointments of additional global leaders in oncology to further support scientific advancement and strategic growth across the company’s discovery research programs. The new RAB members are Steve Davidsen, Gilles Gallant, Ken Herrmann and John Lambert – all recognised for steering world-beating life science pioneers.
The company's net loss for Q3 was $59.1m compared to $50.8m at the same stage of 2024.
