Bicycle Therapeutics Cuts 30% of Staff After Cancer Drug Setback

Bicycle Therapeutics plans to cut its operating expenses in half to preserve cash, laying off about 30% of its staff and ending work on two early trials, according to the company.

The moves follow a regulatory setback for the company's lead cancer drug program. Additional details were not immediately available.

Bicycle, which focuses on antibody-drug conjugates, will continue its remaining pipeline work.