Bicycle Therapeutics plc reported financial results for the second quarter ended June 30, 2026. The company posted a net loss of $50.3 million, or $(0.72) per share, compared to a net loss of $79.0 million in the prior year period. Research and development expenses decreased to $41.2 million from $71.0 million, primarily due to lower clinical program costs for zelenectide and workforce reductions announced in March 2026. General and administrative expenses fell to $14.0 million from $18.5 million. Cash and cash equivalents stood at $510.1 million as of June 30, 2026, with an expected runway into 2030. The company presented new clinical data for nuzefatide pevedotin in pancreatic cancer and zelenectide pevedotin in urothelial cancer at the AACR and ASCO meetings, respectively. Bicycle Therapeutics is a clinical-stage pharmaceutical company developing novel bicyclic peptide therapeutics for oncology.