BICYCLE THERAPEUTICS PLC (BCYC) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 148.11% of current shares
Recent Dilution: 107.31% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
50M
Potential Supply
75M
Additional shares possible
Splits
None
Past 2 years

Summary

BCYC currently has 50.4M outstanding shares. with significant dilution risk as 74.6M authorized shares could dilute existing holders by 148.1%. The company has significantly diluted shareholders by 107.31% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 30, 2026

10-Q filing | 50.4M shares outstanding

50M 75M
Mar 17, 2026

10-K filing | 49.9M shares outstanding

50M 75M
Aug 08, 2025

S-3 filing: The filing is an S-3 registration statement to register Ordinary Shares, American Depositary Shares representing Ordinary Shares, Preference Shares, Debt Securities, Warrants, Rights, Units up to $500,000,000 and ADSs offered by selling securityholders.

69M 56M
Aug 08, 2025

10-Q filing | 49.9M shares outstanding

50M 0
May 01, 2025

10-Q filing | 69.2M shares outstanding

69M 0
Feb 25, 2025

10-K filing | 47.6M shares outstanding

48M 0
Oct 31, 2024

10-Q filing | 47.6M shares outstanding

48M 0
Aug 06, 2024

10-Q filing | 52.0M shares outstanding

52M 0
Jun 18, 2024

8-K filing: Bicycle Therapeutics plc filed a prospectus supplement related to the resale of up to 37,656,764 ordinary shares by selling securityholders.

43M 0
May 23, 2024

8-K filing: Bicycle Therapeutics plc entered into a securities purchase agreement to sell 25,933,706 American Depositary Shares or non-voting ordinary shares at $21.42 per share, with aggregate gross proceeds of approximately $555 million before deducting fees and expenses. ($555.0M proceeds)

43M 0
May 02, 2024

10-Q filing | 42.6M shares outstanding

43M 0
Feb 20, 2024

10-K filing | 42.4M shares outstanding

42M 0
Nov 02, 2023

10-Q filing | 39.6M shares outstanding

40M 0
Aug 03, 2023

10-Q filing | 30.2M shares outstanding

30M 2.4M
Jul 13, 2023

8-K filing: Bicycle Therapeutics plc entered into an underwriting agreement to issue and sell 9,411,766 American Depositary Shares (ADSs) and non-voting ordinary shares at a public offering price of $21.25 per share, with net proceeds expected to be approximately $187.3 million. ($187.3M proceeds)

30M 2.5M
May 04, 2023

10-Q filing | 30.0M shares outstanding

30M 2.5M
Feb 28, 2023

10-K filing | 29.7M shares outstanding

30M 2.9M
Nov 03, 2022

10-Q filing | 29.7M shares outstanding

30M 2.9M
Aug 04, 2022

10-Q filing | 29.6M shares outstanding

30M 2.9M
May 05, 2022

10-Q filing | 29.6M shares outstanding

30M 2.9M
Mar 01, 2022

10-K filing | 29.6M shares outstanding

30M 3M
Nov 04, 2021

10-Q filing | 25.0M shares outstanding

25M 7.5M
Oct 14, 2021

8-K filing: Bicycle Therapeutics plc entered into an underwriting agreement to issue and sell 3,240,741 American Depositary Shares at a public offering price of $54.00 per ADS, with net proceeds expected to be approximately $163.8 million. An option for the Underwriters to purchase 486,111 additional ADSs also exists. ($175.0M proceeds)

24M 8.5M
Aug 05, 2021

10-Q filing | 24.1M shares outstanding

24M 8.5M
May 06, 2021

10-Q filing | 24.1M shares outstanding

24M 8.5M
Mar 11, 2021

10-K filing | 23.1M shares outstanding

23M 9.5M
Nov 05, 2020

10-Q filing | 21.3M shares outstanding

21M 11M
Aug 05, 2020

10-Q filing | 19.3M shares outstanding

19M 13M
Jun 05, 2020

S-3 filing: The filing is for a shelf registration to issue up to $250,000,000 of any combination of ordinary shares, American Depositary Shares, preference shares, debt securities, warrants, rights, or units.

18M 14M
May 07, 2020

10-Q filing | 18.1M shares outstanding

18M 0
Mar 10, 2020

10-K filing | 18.0M shares outstanding

18M 0
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