Targeted Genetics Exits Nasdaq

1/13/10

Targeted Genetics, the Seattle-based developer of gene therapies that went public back in 1994, said today it has decided to allow its stock (NASDAQ: TGEN) to be delisted from the Nasdaq in order to conserve cash. The company has the equivalent of just six full-time employees, and the company is planning to further reduce costs by switching CEO Susan Robinson and David Poston, the chief financial officer, to part-time status, the company said. Targeted Genetics had $4.5 million in cash on hand heading into this year, the company said. The stock closed trading yesterday at 32 cents.

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