Bicycle Therapeutics Plc

BCYC

Pharmaceutical Preparations

Mkt Cap

$462M

PE

-2.86

Debt

$30.6M

Cash

$572.6M

EV

-$80.05M

FCF

-$47.98M

Market Cap

$462M

P/E Ratio

-2.86

Debt

$30.6M

Cash

$572.6M

EV

-$80.05M

FCF

-$47.98M

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. It is developing BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease; BT5528, a BTC that is in a Phase I/II clinical trial targeting Ephrin type-A receptor 2; and BT8009, which is in Phase I/II clinical trial targeting Nectin-4. The company also develops THR-149, a plasma kallikrein inhibitor for the treatment of diabetic macular edema; BT7480, a Bicycle tumor-targeted immune cell agonist (TICA) targeting Nectin-4 and agonizing; BT7455, an EphA2/CD137 Bicycle TICA; and BT7401, a multivalent CD137 agonist. In addition, it collaborates with biopharmaceutical companies and organizations to develop programs in therapeutic areas, such as anti-infective, cardiovascular, dementia, central nervous system, neuromuscular, and respiratory indications. The company has a clinical trial and license agreement with the Cancer Research Technology Limited and Cancer Research UK; research collaboration agreements with AstraZeneca AB, Sanofi, Oxurion NV, and the Dementia Discovery Fund, as well as with Ionis Pharmaceuticals, Inc.; and a discovery collaboration and license agreement with Genentech Inc. for the discovery and development of Bicycle peptides for multiple immuno-oncology targets, as well as strategic collaboration with Bayer for developing Novel Targeted Radionuclide Therapies in Oncology. Bicycle Therapeutics plc was incorporated in 2009 and is headquartered in Cambridge, the United Kingdom.

Sector

10-Q
6/30/23
10-Q
3/31/23
10-K
12/31/22
10-Q
9/30/22
10-Q
6/30/22
10-Q
3/31/22
10-K
12/31/21
10-Q
9/30/21
10-Q
6/30/21
10-Q
3/31/21
10-K
12/31/20
10-Q
9/30/20
10-Q
6/30/20
10-Q
3/31/20
10-K
12/31/19
10-Q
9/30/19
10-Q
6/30/19

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth -

Earnings Stability -

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been increasing indicating a higher marginal ROA with respect to the calculated one, giving a good sign for continued growth.

Years	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	TTM
Net Margin	-790%	-310%	-220%	-490%	-570%	-780%	-5.1K%
ROA	-	-27%	-24%	-32%	-14%	-28%	-25%
ROE	34%	31%	-33%	-53%	-19%	-42%	-39%

What is the average Net Margin?

The average Net Margin over the past 5 years is -526.46%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -29%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is -24.82%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +0.78%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -13.58%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -15.79%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

Data are missing

Years	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	TTM
Debt FCF	-	-	-	-0.79	-1.78	-0.29	-0.64
Debt Equity	-	-	-	0.16	0.09	0.11	0.07
MIN
Graham Stability	-	-	-	-	-	-	-

What is the Debt/FCF?

The Debt/FCF trailing twelve month is -0.64.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.25.

What is the Graham’s Stability?

Graham’s Stability measure stands at -.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Data are missing

Years	12-2017	12-2019	12-2021	Trend
Revenue	48%	1.6%	24%	-53%
Net Income	-	-	-	-
Stockholders Equity	-	43%	-22%	-12%
FCF	-	-	-	-

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +47.67%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -52.63%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +47.29%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -12.11%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +110.75%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -.