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Targeted Genetics Cash Will Stretch into First Quarter

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.