Targeted Genetics restructures

TGEN restructured and reduced its headcount by 26 employees (27%) to about 70, with the cuts primarily in early stage R&D, operations and general administration. TGEN expects the move to reduce its 2006 burn rate by at least 20-25% from its guidance for full year 2005, which was $20-$22 million. At Sept. 30, 2005, the company had $17.2 million in cash. ...