Hang on for the ride as Bicycle shows why it’s the wheel deal

Its Q4 and full year 2023 results show an unrelenting investment in future cures for patients in a range of disease areas and a commitment to deliver on the company’s vast global potential.

The board points to what it calls a “catalyst-rich 2024 with multiple clinical data readouts and updates expected for pipeline and discovery programs.”

Bicycle’s Phase 2/3 Duravelo-2 registrational trial for BT8009 in metastatic urothelial cancer is now active and recruiting patients. BT8009 initial clinical data showed a promising response and differentiated safety profile.

A recent and innovative R & D Day outlined near-term strategic priorities and highlighted the breadth of the Bicycle® platform technology and the company’s ability to develop highly differentiated precision therapies for cancer and other diseases.

Bicycle ended 2023 with cash and equivalents of $526.4 million which is expected to provide a financial runway into 2026.

CEO Kevin Lee commented: “2023 was a pivotal year for our company, during which we achieved significant progress across our Nectin-4 and EphA2 clinical oncology portfolios and our discovery pipeline of next-generation Bicycle® molecules, including in radiopharmaceuticals and areas beyond oncology.

“We continue to demonstrate our ability to develop highly differentiated, precision-guided therapeutics that may offer greater tolerability and lead to enhanced benefit for patients.

“With a catalyst-rich 2024 expected, a strong financial position, validating partnerships and a unique platform technology, we enter this year with significant momentum and focus to advance our mission to help patients not only live longer but also live well.”

Spend on R & D climbed and losses widened but all contained within a bandwidth of brilliant science as Bicycle executes its plan to become a leader in next-generation solid tumour therapeutics and combinations and lead position in other key areas of BioMedTech.

Peer-reviewed data gathered from clinical trials pinpoints encouraging medical efficacy and progress on several fronts.

For the bean counters, the NASDAQ-quoted Transatlantic business reported R & D expenses up to $44.7m for the last quarter and $156.5m for the year – up from $24.7m and $81.6m, respectively, year-on-year.

Q4 net loss was $49.1m and annual net loss $180.7m compared to $30m and $112.7m the previous year.