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Biotech / Medical : TGEN - Targeted Genetics Corporation
TGEN 9.240-5.3%3:59 PM EST

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From: tktrimbath12/31/2005 12:53:04 PM
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my semi-annual review of TGEN

Every six months or so I look at my stocks and try a quick explanation of the company and my position. It helps me remember why I hold the stock, reminds me what I want to do with it, and lets me check back for changes. I encourage folks to comment and show me other points of view.

I'll start off by saying that I like the company, the people, and what they are doing. I simply has lost confidence that they can pull it off because of technical and legal challenges. Pity and I hope I'm wrong.

Targeted Genetics is a biotech that has innovative treatments for AIDs and arthritis, but has failed with applying those technologies to Cystic Fibrosis. None of the products in the pipeline are obviously going to make the company successful. The AIDs treatments will take a while to prove out and even then the first application is being done as a not-for-profit solution for Africa's epidemic. That's is noble and I'm glad that they are doing it, but it doesn't make investors rush to buy the stock. The arthritis treatment sounds good but it has the potentially contentious hurdle of AMGEN claiming that they own the rights to it through their acquisition of Immunex.

If either of these prove valuable I suspect that the stock won't appreciate much before the company gets bought. I've already sold some shares but will hang onto the remaining ones as lottery tickets as much as anything. And lottery tickets do pay out occasionally.
(market cap 4.20E+07)

DISCLAIMER LTBH since 2000 and I recently sold half when I realized that some of the dotcom survivors (ICGE) were just as cheap but had much better financials and lower risk.
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