-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IqYbxhZxkN2BBGiSkSuhbNNsbXJYG/RupFFI82l+sFfO/fdZQLBPU0vZ9O8C5Kl4 alY4mxv0cK0okR3Wz626AQ== 0001032210-98-000533.txt : 19980521 0001032210-98-000533.hdr.sgml : 19980521 ACCESSION NUMBER: 0001032210-98-000533 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980520 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980520 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: TARGETED GENETICS CORP /WA/ CENTRAL INDEX KEY: 0000921114 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 911549568 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23930 FILM NUMBER: 98628628 BUSINESS ADDRESS: STREET 1: 1100 OLIVE WAY STREET 2: STE 100 CITY: SEATTLE STATE: WA ZIP: 98101 BUSINESS PHONE: 2066237612 MAIL ADDRESS: STREET 1: 1100 OLIVE WAY STREET 2: STE 100 CITY: SEATTLE STATE: WA ZIP: 98101 8-K 1 FORM 8-K DATED MAY 20, 1998 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): May 20, 1998 TARGETED GENETICS CORPORATION (Exact name of registrant as specified in charter) WASHINGTON 0-23930 91-1549568 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)
1100 OLIVE WAY, SUITE 100 SEATTLE, WASHINGTON 98101 (Address of principal executive offices) (Zip Code) (206) 623-7612 (Registrant's telephone number, including area code) ITEM 5. OTHER EVENTS The Company filed its Condensed Balance Sheet as of March 31, 1998 with the Securities and Exchange Commission on its Form 10-Q for the quarter ended March 31, 1998. On April 17, 1998, in a private placement to accredited investors, the Company sold 8,666,667 shares of common stock for an aggregate offering price of $13,000,000, significantly increasing its assets. The Company's Condensed Balance Sheet as of April 30, 1998, reflects the results of the private placement and is attached hereto as Exhibit 99.1. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits. EXHIBIT NO. DESCRIPTION ----------- -------------------------------------------------------- 99.1 Company's Condensed Balance Sheet at April 30, 1998 and December 31, 1997 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. TARGETED GENETICS CORPORATION By: /s/ James A. Johnson ------------------------------------- James A. Johnson Chief Financial Officer (Authorized Officer and Principal Financial Officer) Dated: May 20, 1998 3 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ----------- -------------------------------------------------------- 99.1 Company's Condensed Balance Sheet at April 30, 1998 and December 31, 1997 4 EX-99.1 2 CONDENSED BALANCE SHEET EXHIBIT 99.1 TARGETED GENETICS CORPORATION (A DEVELOPMENT STAGE COMPANY) CONDENSED BALANCE SHEETS
April 30, December 31, 1998 1997 ------------------- ------------------- (Unaudited) ASSETS - ------ Current assets: Cash and cash equivalents $ 3,009,600 $ 1,011,845 Securities available for sale 10,506,669 4,025,976 Prepaid expenses and other 205,145 248,278 ----------------- ---------------- Total current assets 13,721,414 5,286,099 Property, plant and equipment, net 3,976,835 3,927,533 Other assets 508,297 553,452 ----------------- ---------------- $ 18,206,546 $ 9,767,084 ================= ================ LIABILITIES AND SHAREHOLDERS' EQUITY - ------------------------------------ Current liabilities: Accounts payable $ 1,710,677 $ 1,352,297 Accrued payroll and other liabilities 282,311 275,876 Current portion of long-term obligations 1,168,410 1,030,562 ----------------- ---------------- Total current liabilities 3,161,398 2,658,735 Long-term obligations 1,532,318 1,516,762 Shareholders' equity: Preferred stock 0 0 Common stock (28,883,381 and 20,211,114 shares outstanding at April 30, 1998 and December 31, 1997, respectively) 86,154,101 73,401,141 Deficit accumulated during development stage (72,635,349) (67,782,204) Accumulated other comprehensive income (5,922) (27,350) ----------------- ---------------- Total shareholders' equity 13,512,830 5,591,587 ----------------- ---------------- $ 18,206,546 $ 9,767,084 ================= ================
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