Bicycle Therapeutics (BCYC) Research & Development (2018 - 2026)
Bicycle Therapeutics' (BCYC) quarterly Research & Development came in at $41.2 million in Q2 2026, down 42.05% YoY from $71.0 million in Q2 2025, and down 15.83% on a QoQ basis from $48.9 million in Q1 2026.
Bicycle Therapeutics (BCYC) Research & Development (2018 - 2026) Analysis & Trends
Bicycle Therapeutics (BCYC) has 9 years of Research & Development data on file, last reported at $41.2 million in Q2 2026.
- Quarterly Research & Development fell 42.05% year-over-year to $41.2 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $200.3 million (down 12.22% YoY) and the FY2025 annual result came in at $240.3 million, up 38.92% from the prior year.
- Research & Development slipped to $41.2 million in Q2 2026, from $48.9 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $71.0 million in Q2 2025 to a low of $14.3 million in Q1 2022.
- A 5-year average of $41.2 million and a median of $40.6 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 slumped 42.05%.
- Tracing BCYC's Research & Development over 5 years: stood at $24.7 million in 2022, then soared by 80.82% to $44.7 million in 2023, then advanced by 11.37% to $49.8 million in 2024, then increased by 4.0% to $51.8 million in 2025, then fell by 20.49% to $41.2 million in 2026.
- The last three Research & Development figures came in at $41.2 million (Q2 2026), $48.9 million (Q1 2026), and $51.8 million (Q4 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | Bicycle Therapeutics | 272.28 Mn | 272.28 Mn | - | 41.16 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 41.16 Mn |
| 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 |