Targeted Genetics | GenomeWeb

Targeted Genetics

The company's common stock is now traded on the Over-The-Counter Bulletin Board.

As part of the deal, which is expected to give Targeted Genetics enough cash to continue operations through 2010, the firm licensed back the technology and IP for certain drug-development efforts, including its RNAi-based Huntington’s disease program.

Even if it is able to obtain funding, the company said it may still shut its doors “if we believe the amount of additional funding would be insufficient to allow us to make meaningful progress in developing our current product candidates.”

While many firms have successfully met their goals of allying with big pharmas and biotechs, others have failed to do so, despite promises of forthcoming deals.

While most companies working in the RNAi drugs field have been able to secure the money needed to maintain operations, a number of players in the space have bowed out under unfavorable circumstances.

The company said that the move would allow it to continue operations into August. Previously, it said it only had enough cash to fund itself to the end of June.

Targeted Genetics CFO David Poston reiterated the company's expectation that it will be able to fund its planned operations "only through the first half of 2009."

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