jfm1330 wrote: I took a look at BYCY. It clearly has a more advanced approach to peptide desing and synthesis. They also claim to have a screening tool to test peptides against targets. All that is great on paper and I am not saying it's not good. Time will tell what they can really achieve. That being said, they have one candidate PDC in phase II now, and I hope that TH1902 results from phase I will be more impressive than what they got. If Thera can get much better efficacy results in phase Ib, the valuation of the company will be much higher.
That being said, even though SORT1+ platform is based on a simpler approach in term of peptide desing and synthesis. It is possible that they have found a better system. Sometimes the simplest things are those working better. Here are three important things that SORT1+ has, at the moment, over BYCY.
- TH19P01 is able to carry two cytotoxic molecules instead of one.
- Sortilin receptor may be the best target since its role is specefically to taffick molecules in and out of the cells. It is also a receptor with increased expression as a cancer evolved to a more advanced stage. Also, Thera are the only one, at this point, to target sortilin in a PDC or ADC system against cancers.
-Thera got fast track designation at the preclinical stage for TH1902. To my knowledge, BYCY does not have it for any of their programs, even the one already in phase II. There is a reason for that.
From what I saw, BYCY program in phase II got the "mildly" postive results that are not good enough to propel a stock price. It is positive, but not enough. I think a better comparison will be possible in a few months.
SPCEO1 wrote: BYCY has nine analysts following them, most from second, or even third, tier firms. Every one of these analysts has a buy rating and the average price target for th stock is $44.67. But they also are followed by Goldman Sachs, although apparently not all that closely as Goldman had the only analyst that did not update their work following their latest partnership deal.
BYCY also has over $200 million in cash on its balance sheet follwoing the last partnership deal but is burning more than $50 million in cash per year.
Also, I would be in a distinctly better mood if TH had a market cap of $750 million ascribed to it for its cancer program. But BYCY does have some phase II programs in place so they appear to be further along than TH but much of what they have, and what they have partnerships in, seems to be pre-clinical. I have not yet had time to study these programs to see how it all compares to TH. Maybe the programs in pahse II are not for impressive markets. But like you, I am a bit surprised the market cap of BYCY is not greater than it is based on the market conditions right now and all the partnership interest they have been able to attract.
qwerty22 wrote: Bicycle are amazing given how much they have going on.
https://investors.bicycletherapeutics.com/static-files/3c54702a-a752-4e84-9470-489b89092af6
When people gush here about all the opportunities for SORT1 and I Pooh-Pooh that in favour of focusing on the lead opportunity, well Bicycle are exactly that multi-opportunity approach. I'm still going to hang on to just going with the lead drug because I think bicycle are the exception rather than the rule. I think it's their actual tech that is leading them down this path. Having said that it's super seductive, maybe the shotgun approach would be ok :)
What's weird though is they have this really interesting tech, they have the collaborations, they even have shrinking tumours but they only have a 750 mil market cap. Only looking at their share chart they don't look like they've had any clinical set-backs the stock has been slowly rising for several years. I guess most of what they have is pre-clinical but even so I'd expect they would be valued higher. They even seem to have pretty good name recognition. Anybody got thoughts on the relatively low market cap?
scarlet1967 wrote: Also it seems like bicycle has already started collaboration with other companies for their target drug delivery.
In July of 2021, Ionis entered into a worldwide license and collaboration agreement for tissue-targeted delivery of oligonucleotide therapeutics using Bicycles with high affinity to the transferrin receptor (TfR1). This collaboration was a result of Bicycles’ demonstrated ability to selectively deliver a variety of payloads into solid tumors when targeted to specific tumor antigens. Ionis and Bicycle will collaborate to develop a pipeline of oligonucleotide therapeutic product candidates. Bicycle is eligible to receive development, regulatory and commercial milestone payments and royalties for each program developed under the collaboration.