Armata Pharmaceuticals, Inc. — Director's Dealing 2007

May 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGETED GENETICS CORP /WA/ (TGEN)
CIK: 0000921114
Period of Report: 2007-05-17

Reporting Person: DAVIE JOSEPH MD PHD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-17	Common Stock	A	10000	$0.00	Acquired	11000	Direct

Footnotes

F1: These shares represent a grant of restricted stock units that vest 100% on May 17, 2008, so long as the reporting person is providing services to the issuer on such date.

F2: Such amount reflects a 10-for-1 reverse stock split effected May 10, 2006.