01:53 PM EST, 12/13/2024 (MT Newswires) -- Bicycle Therapeutics ( BCYC ) shares fell more than 31% in recent Friday trading after the company said topline data from a phase 1/2 trial of zelenectide pevedotin combined with Merck's ( MRK ) pembrolizumab showed a 60% overall response rate in first-line metastatic urothelial cancer, in-line with existing therapies.

The company said it plans to report dose selection and topline data from a phase 2/3 trial in H2 2025.

Bicycle also said treatment with zelenectide pevedotin alone in breast cancer patients with Nectin4 gene amplification showed "enhanced anti-tumor activity."

The company said it will advance its development strategy, including phase 1/2 trials in breast, lung, and multi-tumor cancers, starting in 2025.

Price: 13.77, Change: -6.35, Percent Change: -31.55