Biotech, Gene Therapy, Lou Gehrig's Disease

Targeted Genetics Cash Will Stretch into First Quarter

Luke Timmerman 11/5/08

Targeted Genetics, a Seattle-based developer of gene therapies, said today that it only has enough cash to run its operations into the first quarter of 2009. Targeted (NASDAQ: TGEN) said it had $9.2 million in cash and investments left at the end of September, and that it estimates it will spend $11.5 million to $12.5 million throughout 2008. The company is now collaborating with the University of Iowa on an experimental treatment for ALS, or Lou Gehrig’s disease.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can email him at ltimmerman@xconomy.com or call 206-624-2374.