Bicycle Therapeutics (BCYC) Research & Development (2018 - 2026)
Bicycle Therapeutics (BCYC) reported Research & Development of $41.16 million for Q2 2026, down 42.1% from $71.03 million a year earlier and down 15.8% from the prior quarter.
Powered by 
Analysis
Bicycle Therapeutics (BCYC) Research & Development (2018 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Bicycle Therapeutics' Research & Development came in at $200.26 million, down 12.2% year-over-year; for FY2025, it came in at $240.28 million, up 38.9% from FY2024.
- Research & Development has increased for eight consecutive years, with a five-year compound annual growth rate of 48.6% (FY2020 to FY2025).
- By year, Research & Development came in at $172.97 million in FY2024 (+10.5%), $156.5 million in FY2023 (+91.8%), $81.61 million in FY2022 (+81.8%) and $44.88 million in FY2021 (+35.4%).
- The Q2 2026 figure ranks as the lowest quarterly Research & Development since Q2 2024.
- Year over year, Research & Development gained in six of the last eight quarters, with growth averaging 18.1%.
- The high point for year-over-year Research & Development in five years was Q1 2023 (growth of 125.5%); the low point was Q2 2026 (a decline of 42.1%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $48.9 million (Q1 2026), $51.77 million (Q4 2025) and $58.43 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Bicycle Therapeutics | 259.01 Mn | 259.01 Mn | - | 41.16 Mn |
Historic Data
Download Data
Historic 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 |
API Access
Bicycle Therapeutics Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=BCYC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "BCYC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=BCYC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();