RBC Capital initiated coverage on Bicycle Therapeutics PLC BCYC, noting an advantage in oncology and beyond.

RBC Capital开始覆盖Bicycle Therapeutics PLC BCYC，注意到其在肿瘤学及其他领域的优势。

The analyst writes the company’s lead program, Zelenectide pevedotin (zele, formerly BT8009), shows potential to compete in metastatic urothelial cancer (mUC) due to similar objective response rates and fewer adverse events compared to Pfizer Inc’s PFE Seagen Inc. drug, Padcev.

该分析师写道，该公司的领先项目Zelenectide pevedotin（zele，原名BT8009）显示出在转移性尿路上皮癌（mUC）中竞争的潜力，因为与辉瑞公司（Pfizer Inc.）的PfeSeagen Inc.药物Padcev相比，其客观缓解率相似，不良事件较少。

The improved safety profile of Zelenectide could result in greater antitumor durability, a key differentiator from Padcev.

Zelenectide改善的安全性可能导致更高的抗肿瘤耐久性，这是Padcev的关键区别。

The analyst sees zele with a potential high-opportunity Nectin-4 conjugate for solid tumors, with an estimated ~$2 billion at peak global sales in 2033.

该分析师认为zele具有潜在的高机会Nectin-4结合物治疗实体瘤，预计2033年全球销售额达到峰值约20亿美元。

RBC writes, “Commercialization opportunities in non-mUC indications are likely less competitive and offer additional upside to zele.”

RBC写道，“非mUC适应症的商业化机会可能不那么具有竞争力，并为zele提供了额外的优势。”

The analyst initiates with an Outperform rating and a price target of $35.

这位分析师最初的表现优于预期，目标价格为35美元。

The RBC Capital analyst views the regulatory path for Zele as de-risked following FDA alignment on the Duravelo-2 trial. RBC’s proprietary oncologist survey highlights strong demand for a safer Nectin-4 drug conjugate.

RBC Capital分析师认为，在FDA对Duravelo-2试验进行调整后，Zele的监管路径是无风险的。RBC专有的肿瘤学家调查强调了对更安全的Nectin-4药物缀合物的强烈需求。

The analyst also notes Zele’s potential therapeutic value in additional solid tumor indications, such as triple-negative breast cancer (TNBC) and non-small cell lung cancer (NSCLC), which Padcev has yet to address.

分析师还注意到Zele在其他实体瘤适应症中的潜在治疗价值，如三阴性乳腺癌（TNBC）和非小细胞肺癌（NSCLC），Padcev尚未解决。

The analyst highlights the strong potential of Bicycle Therapeutics’ pipeline, which includes two additional clinical-stage candidates. Early signs of activity and safety indicate promise for both candidates in treating solid tumors.

这位分析员强调了自行车疗法管道的巨大潜力，其中包括两个额外的临床阶段候选人。活性和安全性的早期迹象表明，这两种候选药物都有望治疗实体瘤。

The Bicycle platform has been proven through clinical data from its internal pipeline and various external partnerships, generating over $200 million in non-dilutive capital. Future value creation is anticipated from next-generation Bicycle Toxin Conjugates (BTCs), radiopharmaceutical applications, and expansion into areas beyond oncology..

自行车平台已通过其内部管道和各种外部合作伙伴的临床数据得到证实，产生了超过2亿美元的非稀释性资本。未来的价值创造预计将来自下一代自行车毒素结合物（BTC），放射性药物应用以及扩展到肿瘤学以外的领域。。

As of June 30, 2024, cash and cash equivalents were $961.4 million, which is expected to provide a cash runway into the second half of 2027.

截至2024年6月30日，现金和现金等价物为9.614亿美元，预计将为2027年下半年提供现金跑道。

Price Action: BCYC stock is up 1.27% at $20.69 at the last check on Friday.

价格走势：周五最后一次检查显示，BCYC股价上涨1.27%，至20.69美元。

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