Targeted Genetics, the Seattle-based developer of gene therapies, said today in its quarterly financial report that it “must raise additional capital” to remain in business beyond this month. The company (NASDAQ: [[ticker:TGEN]]) had $2.5 million in cash and investments left at the end of June. The company is considering selling assets, product collaborations, or stock sales as options to stay afloat. “If we are not successful in the very near term at raising additional funding sufficient to support our ongoing operations, we will wind down our business or otherwise cease our operations,” said CEO Susan Robinson, in a statement. The company has 15 employees at last count on Aug. 1.
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
