Bicycle Therapeutics announced 86 layoffs in 2026, affecting 30% of its 288-person workforce. The company cited 30% cut. FDA rejected accelerated approval path for bladder cancer drug zelenectide. Halting two clinical trials. Cutting operating costs 50%. The cuts are part of a broader pattern of workforce reductions across the Biotech sector in 2026, where companies are restructuring operations in response to changing market conditions, AI adoption, and margin pressure.