Sensei Biotherapeutics said it will stop development of its only clinical‑stage asset, solnerstotug, wind down the ongoing Phase 1/2 study and implement workforce reductions to preserve cash. The company had previously reported encouraging six‑month progression‑free survival signals in an early cohort but concluded that funding needs and current capital markets make further development untenable. Sensei will retain a small team to pursue strategic alternatives, including potential sale of preclinical assets, a merger, or an orderly wind‑down. The company had about $28.6 million in cash at the end of June and had projected a limited runway; the move follows prior rounds of layoffs and site closures. The decision highlights how tight public and private capital markets are forcing small oncology biotechs to prioritize cash stewardship over moving early clinical signals forward.