Regulus Therapeutics Inc. said it paused certain clinical activities and will lay off about 60% of its workforce.
The San Diego-based biopharmaceutical company paused recruitment activities for its RG-012, its potential treatment for Alport syndrome. A phase 1 trial of RGLS4326, another kidney disease drug, was paused.
Regulus expects the restructuring to yield over $20 million in annualized savings, extending its cash runway into mid-2019.
"I am very disappointed that we need to take these drastic steps to preserve our capital," company President and CEO Jay Hagan said in a news release.
Regulus is in talks to potentially restructure a partnership with Paris-based Sanofi.