BCYC: the balance sheet

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Balance Sheets	2026-03-31	2025-12-31	2025-09-30	2025-06-30
Cash and cash equivalents	559,474	628,110	648,325	721,451
Prepaid expenses and other current assets	18,744	19,181	23,231	22,058
Research and development incentives receivable	40,917	35,594	67,263	60,753
Total current assets	619,135	682,885	738,819	804,262
Property and equipment, net	5,734	6,021	6,861	8,307
Operating lease right-of-use assets	14,535	15,886	4,562	5,806
Other assets	12,992	12,805	13,712	13,809
Total assets	652,396	717,597	763,954	832,184

Accounts payable	5,970	9,669	12,653	18,263
Accrued expenses and other current liabilities	40,124	44,354	44,368	44,538
Deferred revenue, current portion	2,795	2,961	12,261	14,621
Total current liabilities	48,889	56,984	69,282	77,422
Operating lease liabilities, net of current portion	13,874	14,096	981	1,765
Deferred revenue, net of current portion	34,340	35,508	74,119	82,943
Other long-term liabilities	973	1,032	1,093	1,139
Total liabilities	98,076	107,620	145,475	163,269
Ordinary shares, including non-voting ordinary shares, 0.01 nominal value 163,361,109 and 159,685,229 shares authorized on march 31, 2026 and december 31, 2025, respectively 69,707,026 and 69,367,896 shares issued and outstanding at march 31, 2026 and december 31, 2025, respectively	899	894	894	893
Additional paid-in capital	1,519,276	1,512,339	1,500,653	1,491,882
Accumulated other comprehensive loss	-5,279	-3,505	-3,471	-3,363
Accumulated deficit	-960,576	-899,751	-879,597	-820,497
Total shareholders' equity	554,320	609,977	618,479	668,915
Total liabilities and shareholders' equity	652,396	717,597	763,954	832,184

Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.