Bicycle Therapeutics announced a workforce reduction of roughly 30%, shelving or deprioritizing several trials after regulatory feedback deemed its registrational study design inadequate to support accelerated approval for lead ADC zelenectide. The company will convert ongoing Duravelo studies to smaller or earlier‑phase trials and refocus cash toward remaining pipeline assets to extend runway. Management framed the cuts as necessary to preserve capital and recalibrate clinical strategy after comparator and control‑arm choices limited the path to approval. Investors and partners will monitor follow‑on asset priorities and potential partnering options as Bicycle seeks to stabilize operations and reposition its oncology portfolio.