Bicycle Therapeutics (BCYC) Research & Development (2018 - 2026)
Bicycle Therapeutics (BCYC) posted Research & Development of $48.9 million for Q1 2026, down 5.54% on a QoQ basis from $51.8 million in Q4 2025, and down 17.2% year-over-year from $59.1 million in Q1 2025.
Bicycle Therapeutics (BCYC) Research & Development (2018 - 2026) Analysis & Trends
Bicycle Therapeutics' Research & Development history runs 9 years deep, the most recent figure standing at $48.9 million for Q1 2026.
- Quarterly Research & Development fell 17.2% year-over-year to $48.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $230.1 million (up 16.72% YoY) and the FY2025 annual result came in at $240.3 million, up 38.92% from the prior year.
- Research & Development was $48.9 million for Q1 2026 at Bicycle Therapeutics, down from $51.8 million in the prior quarter.
- Across five years, Research & Development topped out at $71.0 million in Q2 2025 and bottomed at $14.3 million in Q1 2022.
- A 5-year average of $41.2 million and a median of $40.1 million in 2024 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2023 — Research & Development soared 125.5% — and 2026, when it decreased 17.2%.
- Bicycle Therapeutics' Research & Development stood at $24.7 million in 2022, then surged by 80.82% to $44.7 million in 2023, then grew by 11.37% to $49.8 million in 2024, then gained by 4.0% to $51.8 million in 2025, then dropped by 5.54% to $48.9 million in 2026.
- Business Quant data shows BCYC's Research & Development at $48.9 million in Q1 2026, $51.8 million in Q4 2025, and $58.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | -17.94 Mn |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 541.22 Mn |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | -2.31 Mn |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 961.60 Mn |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 1.54 Bn |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | 15.66 Mn |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 1.37 Bn |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | 343.97 Mn |
| 10 | Bicycle Therapeutics | 289.88 Mn | 289.88 Mn | - | 48.90 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 48.90 Mn |
| Dec 31, 2025 | 51.77 Mn |
| Sep 30, 2025 | 58.43 Mn |
| Jun 30, 2025 | 71.03 Mn |
| Mar 31, 2025 | 59.06 Mn |
| Dec 31, 2024 | 49.78 Mn |
| Sep 30, 2024 | 48.27 Mn |
| Jun 30, 2024 | 40.06 Mn |
| Mar 31, 2024 | 34.86 Mn |
| Dec 31, 2023 | 44.70 Mn |
| Sep 30, 2023 | 39.87 Mn |
| Jun 30, 2023 | 39.72 Mn |
| Mar 31, 2023 | 32.21 Mn |
| Dec 31, 2022 | 24.72 Mn |
| Sep 30, 2022 | 22.75 Mn |
| Jun 30, 2022 | 19.85 Mn |
| Mar 31, 2022 | 14.28 Mn |
| Dec 31, 2021 | 12.96 Mn |
| Sep 30, 2021 | 10.51 Mn |
| Jun 30, 2021 | 11.72 Mn |