BCYC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-30

• molecules. Our discovery pipeline in oncology includes next-generation BDC molecules, BRC molecules and BIA molecules. In April 2026, additional human imaging data of a BIA molecule targeting EphA2 in patients with pancreatic ductal adenocarcinoma was presented by the German Cancer Consortium, or DK…

• Zelenectide pevedotin, a BDC molecule targeting Nectin-4, is being evaluated in an ongoing Phase II clinical trial called Duravelo-2 evaluating zelenectide pevedotin in patients with untreated and previously treated metastatic urothelial cancer and in ongoing company-sponsored Phase I/II clinical tr…

• Our other product candidate, BT7480, is a Bicycle Tumor-Targeted Immune Cell Agonist®, or Bicycle TICA® molecule. A Bicycle TICA molecule links immune cell receptor binding Bicycle molecules to tumor antigen binding Bicycle molecules. BT7480, a Bicycle TICA molecule targeting Nectin-4 and agonizing …

• The following table summarizes our results of operations for the periods presented:

• Collaboration revenue decreased by $11.4 million in the six months ended June 30, 2026, compared to the six months ended June 30, 2025, primarily due to decreases of $8.1 million and $2.9 million from our collaborations with Genentech and Novartis, respectively, which were terminated effective Augus…

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• Zelenectide pevedotin, a BDC molecule targeting Nectin-4, is being evaluated in an ongoing company-sponsored Phase I/II clinical trial to assess the safety, pharmacokinetics and clinical activity in patients with Nectin-4 expressing advanced malignancies, an ongoing Phase II/III registrational trial…

• Our other product candidate, BT7480, is a Bicycle Tumor-Targeted Immune Cell Agonist®, or Bicycle TICA® molecule. A Bicycle TICA molecule links immune cell receptor binding Bicycle molecules to tumor antigen binding Bicycle molecules. BT7480, a Bicycle TICA molecule targeting Nectin-4 and agonizing …

• In April 2026, we announced Phase I/II clinical results for nuzefatide pevedotin in combination with nivolumab in patients with metastatic urothelial cancer at the American Association for Cancer Research, or AACR, Annual Meeting 2026. We also announced preclinical assessments of nuzefatide pevedoti…

• Comparison of the Three Months Ended March 31, 2026 and 2025

• The provision for income taxes of $0.2 million for the three months ended March 31, 2026, is primarily the result of the reversal of deferred tax assets for share-based payments resulting from our March 2026 workforce reduction. The benefit from income taxes of $1.1 million for the three months ende…

Text added vs the prior filing · source: 10-Q · 2026-07-30

• As of June 30, 2026, we had cash and cash equivalents of $510.1 million. Our exposure to interest rate sensitivity is impacted by changes in the underlying U.K. and U.S. bank interest and treasury rates. Our surplus cash has been invested in money market funds that invest primarily in short-term hig…

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• As of March 31, 2026, we had cash and cash equivalents of $559.5 million. Our exposure to interest rate sensitivity is impacted by changes in the underlying U.K. and U.S. bank interest and treasury rates. Our surplus cash has been invested in money market funds that invest primarily in short-term hi…

• our investment portfolio, which is predicated on capital preservation of investments with short-term maturities, we do not believe an immediate one percentage point change in interest rates would have a material effect on the fair market value of our portfolio. Our earnings would be affected by chan…

Text added vs the prior filing · source: 10-Q · 2026-07-30

• such product candidates or products or such quantities at an acceptable cost, which could delay, prevent or impair our development or commercialization efforts.

• Within our BDC programs, we are evaluating nuzefatide pevedotin (formerly BT5528), a BDC molecule that targets Ephrin type-A receptor 2, or EphA2 and carries a MMAE cytotoxin payload, in an ongoing, company-sponsored Phase I/II clinical trial to assess safety, pharmacokinetics and preliminary clinic…

• metastatic pancreatic ductal adenocarcinoma. In addition, IND-enabling activities are currently ongoing for BT1702, a theranostic BRC molecule targeting MT1-MMP and carrying a 212Pb radioisotope payload. There can be no assurance our BDC or BRC molecules will ever demonstrate evidence of safety or e…

• 31, 2022. The CTR introduces, among other changes, a centralized application system, coordinated review procedures, expanded reporting and increased transparency obligations. Compliance with the CTR requirements by us and our third-party service providers, such as CROs, may impact our developments p…

• The outcome of preclinical studies and early clinical trials may not be predictive of the success of later clinical trials, and preliminary or interim results of clinical trials do not necessarily predict success in the results of completed clinical trials. Many companies in the pharmaceutical and b…

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• companies in the early stages of development, especially clinical-stage pharmaceutical companies such as ours. Any predictions made about our future success or viability may not be as accurate as they would be if we had a longer operating history or a history of successfully developing and commercia…

• Within our BDC programs, we are evaluating nuzefatide pevedotin (formerly BT5528), a BDC molecule that targets Ephrin type-A receptor 2, or EphA2 and carries a MMAE cytotoxin payload, in an ongoing, company-sponsored Phase I/II clinical trial to assess safety, pharmacokinetics and preliminary clinic…

• believe they may possess. We have not yet succeeded and may never succeed in demonstrating efficacy and safety for these or any other product candidates in clinical trials or in obtaining marketing approval thereafter.

• The outcome of preclinical studies and early clinical trials may not be predictive of the success of later clinical trials, and preliminary or interim results of clinical trials do not necessarily predict success in the results of completed clinical trials. Many companies in the pharmaceutical and b…

• example, the interim results of our company-sponsored Phase I/II clinical trials of nuzefatide pevedotin, zelenectide pevedotin and BT7480, including specific patient responses we have observed and disclosed, may not be replicated in the completed data sets or in future trials at global clinical tri…