Shares of Bicycle Therapeutics plc (BCYC) are plunging over 33% on Monday morning after the company shared interim Phase 1 data from study of BT8009, a second-generation BTC targeting Nectin-4.
BCYC is currently trading at $31.36, down $15.63 or 33.26%, on the Nasdaq, on a volume of 1.2 million shares, above average volume of 300 thousand shares. The stock opened its trading at $31.68 after closing last trading day at $46.99. The stock has traded between $26.39 and $62.08 in the past 52 weeks.
In eight urothelial cancer patients dosed at 5.0mg/m2 weekly, 50% confirmed overall response rate, including one confirmed complete response.
Median duration of response not yet reached in the 2.5mg/m2 and 5.0mg/m2 weekly cohorts, while four of five responders in these cohorts still on therapy after at least 24 weeks.
"Since our initial BT8009 Phase I/II trial interim results last year, we are encouraged to see BT8009's promising profile endure over time. Over the last six months, the preliminary anti-tumor findings have been confirmed, the initial responses have deepened and remained durable, and the tolerability profile remains unchanged," said Dominic Smethurst, MRCP, Chief Medical Officer of Bicycle Therapeutics.
"We believe BT8009 has the potential to offer clinically meaningful differentiation compared to currently available therapies and we look forward to advancing the program once the escalation phase is complete."
The results were presented in an oral presentation on Sunday, April 10 at the 2022 American Association for Cancer Research Annual Meeting in New Orleans, LA.
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