Sensei Therapeutics announced a 65% workforce reduction and termination of three executive roles as it winds down development and explores strategic alternatives; the company retains a minimal team to manage compliance and potential asset sales. Separately, Leap Therapeutics rebranded as Cypherpunk Technologies after winding down its cancer program and shifting focus to digital asset treasury management while keeping limited therapeutic ambitions. Both moves underline the capital strain and strategic pivots small biotechs are undertaking amid funding headwinds.