The present disclosure describes a subcutaneous cutting device for insertion into tissues and cutting of targeted tissues. The cutting device includes a handle, a cannula extending distally from the handle to a sharpened distal tip, and an adjustable blade disposed within a blade-holding section of the cannula. The blade is selectively adjustable between a retracted position within the cannula and an open position with the blade tip lifted up and angled away from the cannula. When the blade is in the open position, the blade tip points proximally toward the handle.