Regulus Therapeutics Inc. said Mark Deeg will be terminated as its chief medical officer as part of the restructuring process to preserve capital.

The San Diego-based biopharmaceutical company has paused its recruitment activities for RG-012, its potential treatment for Alport syndrome, and a phase 1 trial of RGLS4326, another kidney disease drug.

Regulus is reducing its workforce by about 60% and expects to complete the reduction in the third quarter. It expects the restructuring to yield over $20 million in annualized savings, extending its cash runway into mid-2019.