BICYCLE THERAPEUTICS PLC SEC Filings

Armistice Capital, LLC and Steven Boyd report their beneficial ownership of Bicycle Therapeutics plc American Depositary Shares in this amended Schedule 13G filing. They report beneficial ownership of 3,398,000 ADSs, representing 6.72% of the outstanding class as of June 30, 2026. All voting and dispositive power over these securities is shared, with no sole voting or dispositive power reported. The shares are held directly by Armistice Capital Master Fund Ltd., for which Armistice Capital acts as investment manager under an Investment Management Agreement, and Mr. Boyd may be deemed to beneficially own the same securities as managing member of Armistice Capital.

Bicycle Therapeutics, a clinical-stage oncology company, reported collaboration revenue of $0.6 million for the quarter ended June 30 2026, compared with $2.9 million a year earlier as prior partnerships wound down. Operating expenses were $55.2 million, including $41.2 million in research and development and $14.0 million in general and administrative costs, leading to a net loss of $50.3 million or $0.72 per share.

Cash and cash equivalents totaled $510.1 million at June 30 2026. Net cash used in operating activities was $115.5 million in the first half of 2026, and management expects existing cash to fund operating expenses and capital needs for at least twelve months. A March 2026 strategic reprioritization, including an approximately 30% workforce reduction, is expected to reduce annual operating expenses by about 50%, and generated $5.5 million in severance-related charges in the first half.

The company is concentrating resources on nuzefatide pevedotin and next-generation Bicycle conjugates, while deprioritizing zelenectide pevedotin and BT7480 for internal development. Several collaborations have ended; Bayer has given notice to terminate its agreement effective September 2026, and approximately $33.2 million of remaining deferred revenue from that collaboration is expected to be recognized in the third quarter of 2026.

Bicycle Therapeutics plc reported second quarter 2026 results, highlighting collaboration revenue of $629 (in thousands) versus $2,920 (in thousands) a year earlier and total operating expenses of $55,188 (in thousands), driven by research and development of $41,160 (in thousands) and general and administrative costs of $14,028 (in thousands). Net loss was $50,333 (in thousands), or $0.72 per share, compared with $78,952 (in thousands), or $1.14 per share, in the prior-year quarter. Cash and cash equivalents were $510.1 million as of June 30, 2026, and the company expects its cash runway to extend into 2030.

Operationally, Bicycle Therapeutics advanced its oncology pipeline. A Phase 2 trial of nuzefatide pevedotin in recurrent pancreatic cancer is dosing patients at an 8mg/m2 Q2W regimen, and the first company-sponsored radioligand trial for BT1702, an MT1-MMP targeting BRC, is expected to begin in 2027. The safety profile of zelenectide pevedotin showed no new safety signals or Grade 4 or Grade 5 treatment-related adverse events. The company also expanded its Clinical Advisory Board with the appointment of oncologist Professor Thomas Powles.

Bicycle Therapeutics PLC Chief Financial Officer Travis Alvin Thompson received a grant of employee stock options for 60,000 Ordinary Shares on July 15, 2026. The options have an exercise price of $4.2100 per share, expire on July 15, 2036, and vest 25% on July 15, 2027 with the balance in 36 equal monthly installments.

BICYCLE THERAPEUTICS PLC reported that chief product and supply chain officer Michael Charles Ferguson Hannay received an employee stock option grant for 60,000 ordinary shares. The option has an exercise price of 4.21 per share, expires on July 15, 2036, and vests one-fourth on July 15, 2027, with the remaining shares vesting in 36 equal monthly installments thereafter.

Bicycle Therapeutics plc reported that Chief Scientific Officer Michael Skynner received a grant of 60,000 employee stock options on July 15, 2026. These options allow purchase of Ordinary Shares at an exercise price of $4.2100 per share, expire on July 15, 2036, and vest with one-fourth on July 15, 2027 and the remainder in 36 equal monthly installments thereafter.

Bicycle Therapeutics plc reported that Chief Operating Officer Jennifer Scott Perry received an employee stock option grant covering 60,000 Ordinary Shares on July 15, 2026. The option has a $4.21 exercise price, expires July 15, 2036, and vests 25% on July 15, 2027, with the remainder vesting in 36 equal monthly installments.

Bicycle Therapeutics Chief Operating Officer Jennifer Scott Perry reported selling a total of 1,412 Ordinary Shares in open-market transactions on July 2 and July 6, 2026 at prices reported between $4.27 and $4.34 per share. According to the disclosure, these shares were sold to cover statutory tax withholding obligations arising from the vesting and settlement of RSUs under a mandated “sell to cover” arrangement, rather than as discretionary sales. The transactions were carried out under a Rule 10b5-1 trading plan adopted on March 27, 2025, and Perry continues to hold approximately 91,052 Ordinary Shares directly after the reported sales.

Bicycle Therapeutics plc Chief Scientific Officer Michael Skynner reported two small open-market sales of Ordinary Shares tied to tax withholding on vested equity awards. On July 2, 2026, he sold 1,859 shares at a weighted average price of $4.27 per share, followed by 532 shares on July 6, 2026 at a weighted average price of $4.31. A footnote explains these transactions were required "sell to cover" sales to satisfy statutory tax withholding obligations related to RSU vesting and were not discretionary. After these sales, Skynner directly held 157,171 Ordinary Shares.