Armata Pharmaceuticals, Inc. — Director's Dealing 2006

May 10, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGETED GENETICS CORP /WA/ (TGEN)
CIK: 0000921114
Period of Report: 2006-05-08

Reporting Person: DAVIE JOSEPH MD PHD (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-08	Stock Option (right to buy)	$0.38	A	25000	Acquired	2016-05-08	Common Stock (25000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10000	Direct

Footnotes

F1: Such option is 100% vested and exercisable on May 8, 2007, subject to the provision of continued service by the optionee to the issuer.

F2: Price is not applicable.