Long Focus Capital Management, LLC Acquires 6.6% Stake in Bicycle Therapeutics plc (BCYC)

On May 15, 2026, Long Focus Capital Management, LLC and its managing member, John Helmers, filed a Schedule 13G disclosing a new significant stake in Bicycle Therapeutics plc (BCYC). As of the event date on March 31, 2026, the reporting persons beneficially own 3,310,687 American Depositary Shares, representing approximately 6.6% of the company's outstanding shares. This position marks a substantial increase from a previous holding of zero shares. The shares are held in various client accounts managed by Long Focus Capital Management, LLC, which maintains shared voting and dispositive power over the securities. The filing indicates that the acquisition was made in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer. Both Long Focus Capital Management, LLC and John Helmers are listed as reporting persons, with Helmers exercising control over the investment management firm. This filing highlights a new major institutional interest in the Cambridge-based biotechnology company.