Bicycle Therapeutics announced a 30% workforce reduction, retaining around 200 employees after the downsizing1.
The downsizing follows the deprioritization of its lead asset, zelenectide, a cancer drug for metastatic urothelial carcinoma, after the FDA deemed one of its ongoing studies no longer acceptable as an approval path1.
The announcement coincided with Bicycle's March 17, 2026 earnings report1.