Targeted Genetics Amends Lease

7/24/09

Targeted Genetics, the Seattle-based developer of gene therapies, said today it has amended the lease on its 38,000-square foot headquarters to get a reduced rate from June through August, and then providing $45,000 and “reasonable credit assurances” to its landlord by Aug. 31. If the company can’t provide those assurances, the landlord can terminate the lease on Oct. 31. Targeted Genetics (NASDAQ: TGEN) has been running low on cash for months, and only has enough money left to operate into August, the company said.

By posting a comment, you agree to our terms and conditions.