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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><B>As filed with the
Securities and Exchange Commission on June&nbsp;17, 2004</B>



<P align="right" style="font-size: 10pt"><B>Registration No.&nbsp;333-________</B>


<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">







<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549<BR>
______________________</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 10pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
______________________</B>


<P align="center" style="font-size: 24pt"><B>TARGETED GENETICS CORPORATION</B>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

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    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><B>Washington</B><BR>
(State or other jurisdiction of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>91-1549568</B><BR>
(I.R.S. Employer Identification No.)</TD>
</TR>


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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>1100 Olive Way, Suite&nbsp;100<BR>
Seattle, Washington 98101</B><BR>
(Address of principal executive offices, including zip code)



<P align="center" style="font-size: 10pt"><B>TARGETED GENETICS CORPORATION<BR>
1999 STOCK OPTION PLAN</B><BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt"><B>H. STEWART PARKER<BR>
President and Chief Executive Officer<BR>
Targeted Genetics Corporation<BR>
1100 Olive Way, Suite&nbsp;100<BR>
Seattle, Washington 98101<BR>
(206)&nbsp;623-7612</B><BR>
(Name, address and telephone number, including area code, of agent for service)<BR>
<B>______________________<BR>
Copies to:</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="65%">

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    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

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<TR valign="bottom">
    <TD align="center" valign="top"><B>Stephen M. Graham, Esq.<BR>
Eric S. Carnell, Esq.<BR>
Orrick, Herrington &#038; Sutcliffe LLP<BR>
719 Second Avenue, Suite&nbsp;900<BR>
Seattle, Washington 98104<BR>
(206)&nbsp;839-4300</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Jonathan K. Wright, Esq.<BR>
General Counsel<BR>
Targeted Genetics Corporation<BR>
1100 Olive Way, Suite&nbsp;100<BR>
Seattle, Washington 98101<BR>
(206)&nbsp;623-7612</B></TD>
</TR>


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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>______________________</B>



<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

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    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Securities</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Number to Be</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Aggregate Offering</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to Be Registered</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered(1)</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Offering Price Per Share(2)</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Price(2)</B></TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>


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<TR valign="bottom">
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><B>Common Stock, par
value $0.01 per
share, authorized
but unissued under
the 1999 Stock
Option Plan, as
amended</B></DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000"><B>6,000,000</B></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 1px solid #000000"><B>$1.575</B></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>

<TD align="center" valign="top" style="border-top: 1px solid #000000"><B>$9,450,000</B></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000"><B>$</B></TD>

<TD align="right" valign="top" style="border-top: 1px solid #000000"><B>1,198</B></TD>
    <TD valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-top: 3px solid #000000">&nbsp;</TD>
</TR>


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</TABLE>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">This registration statement shall also cover any additional shares of
common stock that may become issuable under the 1999 Stock Option Plan, as
amended, being registered hereby as a result of any future stock split,
stock dividend, recapitalization or similar adjustment effected without
the receipt of consideration that results in an increase in the number of
outstanding shares of the registrant&#146;s common stock.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(h) under the Securities Act of 1933, as amended. The
price per share is estimated to be $1.575, based on the average of the high
and low prices of the registrant&#146;s common stock on June&nbsp;16, 2004, as
reported on the NASDAQ SmallCap Market.</TD>
</TR>

</TABLE>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Item&nbsp;8. EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="v99682orexv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v99682orexv10w1.txt">EXHIBIT 10.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v99682orexv23w1.txt">EXHIBIT 23.1</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>





<P align="center" style="font-size: 10pt"><B>REGISTRATION OF ADDITIONAL SECURITIES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement on Form S-8 is being filed by Targeted
Genetics Corporation, or Targeted Genetics, for the purpose of registering an
additional 6,000,000 shares of common stock, par value $0.01 per share,
issuable by Targeted Genetics pursuant to the Targeted Genetics Corporation
1999 Stock Option Plan, as amended, or the 1999 Plan, as amended and restated
March&nbsp;22, 2004. Pursuant to General Instruction E of Form S-8, we incorporate
by reference into this registration statement the contents of our registration
statement on Form S-8 relating to the 1999 Plan that we filed with the
Securities and Exchange Commission on May&nbsp;14, 1999, file number 333-78523, and
that remains effective.

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<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. EXHIBITS</B>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">Number<HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">Description<HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;&nbsp;5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Orrick, Herrington &#038; Sutcliffe LLP regarding the
legality of the common stock being registered</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Targeted Genetics Corporation 1999 Stock Option Plan, as amended
and restated March&nbsp;22, 2004</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent
of Ernst &#038; Young LLP, Independent Registered Public Accounting
Firm</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Orrick, Herrington &#038; Sutcliffe LLP (included in Exhibit
5.1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included in signature page)</DIV></TD>
</TR>


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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-1
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
the registrant certifies that it has reasonable grounds to believe that it
meets all the requirements for filing on Form S-8 and has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the city of Seattle, state of Washington, on this
17th day
of June, 2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">TARGETED GENETICS CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ H. STEWART PARKER
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">H. STEWART PARKER&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">PRESIDENT AND CHIEF EXECUTIVE OFFICER&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints H.
Stewart Parker and Todd E. Simpson, or either of them, as attorneys-in-fact
with full power of substitution, to execute in the name and on the behalf of
each person, individually and in each capacity stated below, and to file, any
and all amendments to this registration statement, including any and all
post-effective amendments.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
this registration statement has been signed by the following persons in the
capacities indicated below on this 17th day of June, 2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">/S/ H. STEWART PARKER<BR>
<HR size="1" noshade>
H. STEWART PARKER</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President, Chief Executive Officer (Principal<BR>
Executive Officer) and Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/S/ TODD E. SIMPSON<BR>
<HR size="1" noshade>
TODD E. SIMPSON</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice President, Finance and Administration,<BR>
Chief Financial Officer, Secretary and<BR>
Treasurer (Principal Financial and Accounting<BR>
Officer)</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/S/ JEREMY L. CURNOCK COOK<BR>
<HR size="1" noshade>
JEREMY L. CURNOCK COOK</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board and Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/S/ JACK L. BOWMAN<BR>
<HR size="1" noshade>
JACK L. BOWMAN</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/S/ JOSEPH M. DAVIE<BR>
<HR size="1" noshade>
JOSEPH M. DAVIE</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/S/ LOUIS P. LACASSE<BR>
<HR size="1" noshade>
LOUIS P. LACASSE</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">/S/ NELSON L. LEVY<BR>
<HR size="1" noshade>
NELSON L. LEVY, PH.D., M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/S/ MARK H. RICHMOND<BR>
<HR size="1" noshade>
MARK H. RICHMOND, PH.D</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director</TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-3
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>INDEX TO EXHIBITS</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">

<!-- Begin Table Head --><TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">Number<HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">Description<HR size="1" noshade></TD>
</TR>


<!-- End Table Head -->

<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;&nbsp;5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Orrick, Herrington &#038; Sutcliffe LLP regarding the
legality of the common stock being registered</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Targeted Genetics Corporation 1999 Stock Option Plan, as amended
and restated March&nbsp;22, 2004</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent
of Ernst &#038; Young LLP, Independent Registered Public Accounting
Firm</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Orrick, Herrington &#038; Sutcliffe LLP (included in Exhibit
5.1)</DIV></TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included in signature page)</DIV></TD>
</TR>


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<P align="center" style="font-size: 10pt">II-4
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sv8
Table of Contents
As filed with the
Securities and Exchange Commission on June 17, 2004
Registration No. 333-________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
______________________
TARGETED GENETICS CORPORATION
(Exact name of Registrant as specified in its charter)
Washington
(State or other jurisdiction of incorporation or organization)
91-1549568
(I.R.S. Employer Identification No.)
1100 Olive Way, Suite 100
Seattle, Washington 98101
(Address of principal executive offices, including zip code)
TARGETED GENETICS CORPORATION
1999 STOCK OPTION PLAN
(Full title of the plan)
H. STEWART PARKER
President and Chief Executive Officer
Targeted Genetics Corporation
1100 Olive Way, Suite 100
Seattle, Washington 98101
(206) 623-7612
(Name, address and telephone number, including area code, of agent for service)
______________________
Copies to:
Stephen M. Graham, Esq.
Eric S. Carnell, Esq.
Orrick, Herrington & Sutcliffe LLP
719 Second Avenue, Suite 900
Seattle, Washington 98104
(206) 839-4300
Jonathan K. Wright, Esq.
General Counsel
Targeted Genetics Corporation
1100 Olive Way, Suite 100
Seattle, Washington 98101
(206) 623-7612
______________________
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Title of Securities
Number to Be
Proposed Maximum
Aggregate Offering
Amount of
to Be Registered
Registered(1)
Offering Price Per Share(2)
Price(2)
Registration Fee
Common Stock, par
value $0.01 per
share, authorized
but unissued under
the 1999 Stock
Option Plan, as
amended
6,000,000
$1.575
$9,450,000
$
1,198
(1)
This registration statement shall also cover any additional shares of
common stock that may become issuable under the 1999 Stock Option Plan, as
amended, being registered hereby as a result of any future stock split,
stock dividend, recapitalization or similar adjustment effected without
the receipt of consideration that results in an increase in the number of
outstanding shares of the registrant's common stock.
(2)
Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(h) under the Securities Act of 1933, as amended. The
price per share is estimated to be $1.575, based on the average of the high
and low prices of the registrant's common stock on June 16, 2004, as
reported on the NASDAQ SmallCap Market.
TABLE OF CONTENTS
Item 8. EXHIBITS
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 5.1
EXHIBIT 10.1
EXHIBIT 23.1
Table of Contents
REGISTRATION OF ADDITIONAL SECURITIES
This registration statement on Form S-8 is being filed by Targeted
Genetics Corporation, or Targeted Genetics, for the purpose of registering an
additional 6,000,000 shares of common stock, par value $0.01 per share,
issuable by Targeted Genetics pursuant to the Targeted Genetics Corporation
1999 Stock Option Plan, as amended, or the 1999 Plan, as amended and restated
March 22, 2004. Pursuant to General Instruction E of Form S-8, we incorporate
by reference into this registration statement the contents of our registration
statement on Form S-8 relating to the 1999 Plan that we filed with the
Securities and Exchange Commission on May 14, 1999, file number 333-78523, and
that remains effective.
Item 8. EXHIBITS
Exhibit
Number
Description
5.1
Opinion of Orrick, Herrington & Sutcliffe LLP regarding the
legality of the common stock being registered
10.1
Targeted Genetics Corporation 1999 Stock Option Plan, as amended
and restated March 22, 2004
23.1
Consent
of Ernst & Young LLP, Independent Registered Public Accounting
Firm
23.2
Consent of Orrick, Herrington & Sutcliffe LLP (included in Exhibit
5.1)
24.1
Power of Attorney (included in signature page)
II-1
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
the registrant certifies that it has reasonable grounds to believe that it
meets all the requirements for filing on Form S-8 and has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the city of Seattle, state of Washington, on this
17th day
of June, 2004.
TARGETED GENETICS CORPORATION
By:
/s/ H. STEWART PARKER
H. STEWART PARKER
PRESIDENT AND CHIEF EXECUTIVE OFFICER
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints H.
Stewart Parker and Todd E. Simpson, or either of them, as attorneys-in-fact
with full power of substitution, to execute in the name and on the behalf of
each person, individually and in each capacity stated below, and to file, any
and all amendments to this registration statement, including any and all
post-effective amendments.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this registration statement has been signed by the following persons in the
capacities indicated below on this 17th day of June, 2004.
Signature
Title
/S/ H. STEWART PARKER
H. STEWART PARKER
President, Chief Executive Officer (Principal
Executive Officer) and Director
/S/ TODD E. SIMPSON
TODD E. SIMPSON
Vice President, Finance and Administration,
Chief Financial Officer, Secretary and
Treasurer (Principal Financial and Accounting
Officer)
/S/ JEREMY L. CURNOCK COOK
JEREMY L. CURNOCK COOK
Chairman of the Board and Director
/S/ JACK L. BOWMAN
JACK L. BOWMAN
Director
/S/ JOSEPH M. DAVIE
JOSEPH M. DAVIE
Director
/S/ LOUIS P. LACASSE
LOUIS P. LACASSE
Director
II-2
Table of Contents
/S/ NELSON L. LEVY
NELSON L. LEVY, PH.D., M.D.
Director
/S/ MARK H. RICHMOND
MARK H. RICHMOND, PH.D
Director
II-3
Table of Contents
INDEX TO EXHIBITS
Exhibit
Number
Description
5.1
Opinion of Orrick, Herrington & Sutcliffe LLP regarding the
legality of the common stock being registered
10.1
Targeted Genetics Corporation 1999 Stock Option Plan, as amended
and restated March 22, 2004
23.1
Consent
of Ernst & Young LLP, Independent Registered Public Accounting
Firm
23.2
Consent of Orrick, Herrington & Sutcliffe LLP (included in Exhibit
5.1)
24.1
Power of Attorney (included in signature page)
II-4