Less than a month after the company’s Phase III brain cancer treatment failed, San Diego-based Tocagen is undergoing a restructuring and will reduce the employee workforce by 65 percent.

Tocagen Inc.’s shares fell nearly 80 percent after the company’s experimental treatment failed to extend life of brain cancer patients in a study, the latest in a series of setbacks for patients awaiting new treatment options for the condition.

Bexion Pharmaceuticals and the drugmaker’s investigational cancer treatment BXQ-350 is receiving lots of mainstream media coverage as a potential game changer.