Targeted Genetics Corp. said Thursday that underwriters for thecompany's initial public offering exercised their overallotment optionon 154,345 shares of stock at $6 per share. Targeted Genetics nettedabout $861,000 from the transaction.The underwriters, Hambrecht and Quist Inc. and Vector SecuritiesInternational Inc., had an option on 300,000 shares following the initialoffering of 2 million shares on May 20.The Seattle company, which was spun off from Immunex Corp. in1989, now has about 8.95 million shares outstanding. TargetedGenetics has about $15 million cash on hand, which is expected to takeit through late 1995, James Johnson, the company's vice president,finance, told BioWorld.Targeted Genetics has two Phase I trials under way using cytotoxic Tlymphocyte immunotherapy as a treatment for HIV. One trial involvesHIV patients undergoing allogeneic bone marrow transplants; the otheris in HIV seropositive asymptomatic patients. A third Phase I trialunder way uses marker genes to track and monitor stem cells that havebeen reinfused into cancer patients following cancer therapy.Johnson said an investigational new drug application is expected to befiled in the next few months for a stem cell-based treatment forGaucher's disease. _ Jim Shrine
(c) 1997 American Health Consultants. All rights reserved.