By FieldPulse Staff · March 21, 2026
Tags: layoffs, oncology, fda, adc, pfizer
Bicycle Therapeutics is eliminating approximately 86 positions — 30% of its workforce — after the FDA told the company its Phase 2 data for zelenectide pevedotin will not be sufficient to support accelerated approval in bladder cancer, where Pfizer's Padcev is the standard of care.
Bicycle Therapeutics announced a significant workforce reduction and pipeline pivot in late March 2026 after hitting a regulatory wall that has become increasingly common in oncology development. The company had been developing zelenectide pevedotin — a Bicycle Toxin Conjugate (BTC) targeting Nectin-4 — as a potential competitor to Pfizer and Astellas's Padcev (enfortumab vedotin) in metastatic urothelial carcinoma. The FDA informed Bicycle that data from its Duravelo-2 Phase 2 trial will not be sufficient for an accelerated approval filing; regulators want a larger confirmatory trial instead.