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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, the company announced.
Bicycle made the moves after “regulatory feedback” that suggested the design of a Phase 2/3 trial, Duravelo-2, is “no longer considered acceptable as an approval path” for the company’s experimental drug zelenectide in metastatic urothelial cancer.
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