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: [[ticker:TGEN]]) has been running low on cash for months, and only has enough money left to operate into August, the company said.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
View all posts by Luke Timmerman
