Armata Pharmaceuticals, Inc. — Director's Dealing 2005

May 26, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGETED GENETICS CORP /WA/ (TGEN)
CIK: 0000921114
Period of Report: 2005-05-26

Reporting Person: RICHMOND MARK SIR (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-26	Stock Option (right to buy)	$0.91	A	20000	Acquired	2015-05-26	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1668	Direct

Footnotes

F1: Such option is 100% vested and exercisable on May 26, 2006, subject to the provision of continued service by the optionee to the issuer.

F2: Price is not applicable.