<PAGE>

                   U. S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   Form 10QSB
(Mark One)
[X]          QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended June 30, 2000
                                                 -------------

                                 OR

[ ]        TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


                        Commission File Number 0-27264


                       GenStar Therapeutics Corporation
                            (formerly Urogen Corp.)
            (Exact name of registrant as specified in its charter)

                                   DELAWARE
                                   --------
                        (State or other jurisdiction of
                        incorporation or organization)


                                  33-0687976
                                  ----------
                               (I.R.S. Employer
                              Identification no.)


               10835 Altman Row, Suite 150, San Diego, CA, 92121
                   (Address of principal executive offices)         (Zip code)

      Registrant's Telephone Number, including area code:  (858) 450-5949

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes  X   No
                                      -----

The number of shares of the Common Stock of the registrant outstanding as of
July 28, 2000, was 22,260,166.
<PAGE>

                       GenStar Therapeutics Corporation
                            (Formerly UroGen Corp.)
                       (A Development Stage Enterprise)

                              INDEX TO FORM 10QSB

                        PART I.  FINANCIAL INFORMATION
                        ------------------------------

                                                                   Page No.
                                                                   --------
Item 1.  Financial Statements

         Condensed Consolidated Balance Sheets
           June 30, 2000 (Unaudited) and  December 31, 1999...........   2

         Condensed Consolidated Statements of Operations (Unaudited)
           Three and Six Months Ended June 30, 2000 and
           1999 and the period from July 1, 1991 (inception)
           to June 30, 2000...........................................   3

         Condensed Consolidated Statements of Cash Flows (Unaudited)
           Six Months Ended June 30, 2000 and
           1999 and the period from July 1, 1991 (inception)
           to June 30, 2000...........................................   4

         Notes to Unaudited Condensed Consolidated
           Financial Statements.......................................   5

Item 2.  Management's Discussion and Analysis of
           Financial Condition and Results of Operations..............   6


                          PART II.  OTHER INFORMATION
                          ---------------------------

Item 1.    Legal Proceedings..........................................   9
Item 2.    Changes in Securities......................................   9
Item 3.    Defaults Upon Senior Securities............................   9
Item 4.    Submission of Matters to a Vote
           of Security Holders........................................   9
Item 5.    Other Information..........................................   9
           Market For Registrant's Common Equity
Item 6.    Exhibits and Reports on Form 8-K...........................  10
           Signatures.................................................  10

                                       1
<PAGE>

                       GENSTAR THERAPEUTICS CORPORATION
                           (Formerly UroGen Corp.)
                       (A DEVELOPMENT STAGE ENTERPRISE)
                     CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                       June 30,             December 31,
                                                                         2000                   1999
                                                                    --------------       ----------------
                                                                     (unaudited)               (Note)
<S>                                                                 <C>                  <C>
ASSETS

Current assets:
   Cash and cash equivalents                                         $  24,215,542           $    921,994
   Accounts receivable                                                       1,507                114,208
   Other current assets                                                     94,155                  9,461
                                                                    --------------       ----------------
       Total current assets                                             24,311,204              1,045,663

Property and equipment, net                                              1,272,754                569,121
Investments underlying deferred compensation                               157,603                134,308
Other assets                                                               134,160                 77,821
                                                                    --------------       ----------------

                                                                     $  25,875,721           $  1,826,913
                                                                    ==============       ================

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Accounts payable                                                  $     344,402           $    399,485
   Accrued employee benefits                                               172,691                 73,915
   Other accrued liabilities                                               162,692                 81,856
   Current portion of notes payable                                        229,897                      -
   Current portion of capital lease obligation                              74,331                 42,696
                                                                    --------------       ----------------
       Total current liabilities                                           984,013                597,952

Notes payable, net of current portion                                      493,372                      -
Capital lease obligation, net of current portion                            92,586                 51,314
Deferred compensation                                                      278,404                206,962
Advance from related party                                               4,106,454              1,876,003

Commitments

Stockholders' equity (deficit):
   Preferred Stock - $0.01 par value, 5,000,000 shares authorized:
         Series A Preferred Stock, 5,830 and 5,830 shares
           issued and outstanding                                               58                     58
         Series B Preferred Stock, 2,998 and 2,998 shares
           issued and outstanding                                               30                     30
   Common Stock - $0.001 par value, 40,000,000
       shares authorized; 22,288,130 and 12,104,101
       issued and outstanding                                               22,288                 12,104
   Additional paid-in capital                                           36,981,791             11,606,880
   Deficit accumulated during development stage                        (17,083,275)           (12,524,390)
                                                                    --------------       ----------------
         Total stockholders' equity (deficit)                           19,920,892               (905,318)
                                                                    --------------       ----------------

                                                                     $  25,875,721           $  1,826,913
                                                                    ==============       ================
</TABLE>
NOTE: The balance sheet at December 31, 1999 is derived from the audited balance
sheet at that date, but does not include all of the footnote disclosures
required by generally accepted accounting principles.

                            See accompanying notes.

                                       2
<PAGE>

                       GENSTAR THERAPEUTICS CORPORATION
                            (Formerly UroGen Corp.)
                        (A Development Stage Enterprise)
                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                Three Months Ended          Six Months Ended                  July 1, 1991
                                                ------------------          ----------------
                                                                                                              (inception) to
                                            June 30,       June 30,        June 30,          June 30,          June 30,
                                             2000           1999             2000               1999             2000
                                            -----           ----             ----               ----             ----
 <S>                                     <C>             <C>            <C>                 <C>             <C>
Revenue                                  $     40,262    $    50,812    $      73,133       $     50,812   $    1,032,380
                                         ------------    -----------    -------------       ------------   --------------

Costs and expenses:

  Cost of Sales                                     -              -                -                  -          821,878
  Research and development                  1,438,565        607,708        2,424,106          1,146,984       10,569,695
  Write-off of acquired in-process
   technology                               1,633,205              -        1,633,205                  -        7,088,710
  General and administrative                  669,650        210,577        1,003,371            406,026        3,167,435
                                         ------------    -----------   --------------   ----------------   --------------
Total costs and expenses                    3,741,420        818,285        5,060,682          1,553,010       21,647,718
                                         ------------    -----------   --------------   ----------------   --------------

Loss from operations                       (3,701,158)      (767,473)      (4,987,549)        (1,502,198)     (20,615,338)

Other income (expense)                        (17,253)             -          (17,194)               905          (24,867)
Interest expense                              (31,620)      (290,051)         (51,961)          (348,890)        (718,484)
Interest income                               336,544          5,149          497,819              7,838          549,621
                                         ------------    -----------   --------------   ----------------   --------------

Net loss                                 $ (3,413,487)   $(1,052,375)  $   (4,558,885)  $     (1,842,345)  $  (20,809,068)
                                         ============    ===========   ==============   ================   ==============


Basic and diluted loss per share         $      (0.16)   $     (0.11)  $        (0.23)  $          (0.20)
                                         ============    ===========   ==============   ================
Number of shares used in the
 computation of basic and
 diluted loss per share                    21,609,347      9,480,755       19,447,187          9,420,079
                                         ============    ===========   ==============   ================
</TABLE>

                            See accompanying notes.

                                       3
<PAGE>

                       GENSTAR THERAPEUTICS CORPORATION
                            (Formerly UroGen Corp.)
                       (A Development Stage Enterprise)
                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                                                             July 1, 1999
                                                               For the six months ended                     (inception) to
                                                                        June 30,                               June 30,
                                                                2000               1999                          2000
                                                                ----               ----                          ----
<S>                                                         <C>                <C>                      <C>
Net loss                                                    $(4,558,885)       $(1,842,345)                 $(20,809,068)
Adjustments to reconcile net loss to net cash used
 in operating activities:
   Write-off of in-process technology acquired with stock     1,519,500                  -                     6,975,005
   Expenses paid via advances from related  party                     -                  -                       695,557
   Depreciation and amortization                                138,432             57,333                       789,284
   Distribution of common stock for services                          -              2,900                        21,050
   Accrued interest paid through issuance of common stock             -             42,563                        40,245
   Non-cash expense related to stock awards and stock
     options issued                                             145,340                  -                       251,340
   Loss (gain) on disposal of fixed assets                          363                  -                       (81,444)
   Amortization of debt discount                                      -            305,428                       574,296
   Change in assets and liabilities:
     Accounts receivable                                        112,701                  -                        (1,507)
     Other current assets                                       (84,694)             7,630                       (94,155)
     Other assets                                               (79,634)           (85,799)                     (291,763)
     Accounts payable                                           (55,083)          (125,949)                      344,402
     Amounts due to stockholder                                       -           (315,000)                            -
     Other current liabilities                                  118,833            (32,320)                      317,300
     Deferred compensation                                       71,442             75,699                       278,404
                                                            -----------        -----------                  ------------
Net cash used in operating activities                        (2,671,685)        (1,909,860)                  (10,991,054)

Cash flows from investing activities:
 Purchase of property and equipment                            (739,190)           (38,130)                   (1,488,108)
                                                            -----------        -----------                  ------------
Net cash used in investing activities                          (739,190)           (38,130)                   (1,488,108)

Cash flows from financing activities:
 Advances from related party                                  2,230,451          1,440,664                     6,408,897
 Repayment of note receivable from stockholder                        -             20,000                        20,000
 Proceeds from notes payable                                    750,000            400,000                     2,180,000
 Repayment of capital lease and notes payable                   (57,059)                 -                       (67,700)
 Proceeds from issuance of common stock upon exercise
    of options and warrants                                     355,053              1,511                       427,282
 Proceeds from sale of common stock, net of issuance costs   23,425,978                  -                    23,342,760
 Net advances from Medstone                                           -                  -                     3,883,465
 Capital contribution by Medstone                                     -                  -                       500,000
                                                            -----------        -----------                  ------------
Net cash provided by financing activities                    26,704,423          1,862,175                    36,694,704
                                                            -----------        -----------                  ------------

Net increase (decrease) in cash and equivalents              23,293,548            (85,815)                   24,215,542

Cash and equivalents, beginning of period                       921,994            314,983                             -
                                                            -----------        -----------                  ------------

Cash and equivalents, end of period                         $24,215,542        $   229,168                  $ 24,215,542
                                                            ===========        ===========                  ============
</TABLE>

                            See accompanying notes.

                                       4
<PAGE>

                       GENSTAR THERAPEUTICS CORPORATION
                            (Formerly UroGen Corp.)
                       (A Development Stage Enterprise)

        NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                 June 30, 2000


1.   The unaudited financial information furnished herein, in the opinion of
     management, reflects all adjustments, consisting only of normal recurring
     adjustments, which are necessary to state fairly the consolidated financial
     position, results of operations, and cash flows of GenStar Therapeutics
     Corporation as of and for the periods indicated. GenStar presumes that
     users of the interim financial information have read or have access to the
     Company's audited consolidated financial statements and Management's
     Discussion and Analysis of Financial Condition and Results of Operations
     for the year ended December 31, 1999 and that the adequacy of additional
     disclosure needed for a fair presentation, except in regard to material
     contingencies or recent significant events, may be determined in that
     context. Accordingly, footnote and other disclosures which would
     substantially duplicate the disclosures contained in Form 10-KSB for the
     year ended December 31, 1999 filed on March 30, 2000 by the Company have
     been omitted. The financial information herein is not necessarily
     representative of a full year's operations.

2.   In accordance with the Financial Accounting Standards Board's Statement of
     Financial Accounting Standards ("SFAS") No. 128, Earnings per Share, net
     loss per share is based on the average number of shares of common stock
     outstanding during the six-month periods ended June 30, 2000 and 1999.
     Equivalent shares arising from convertible preferred stock, convertible
     debt, warrants for Common Stock and outstanding stock options have not been
     included in the computation of net loss per share as their effect would be
     antidilutive.

3.   In January and February 2000, the Company issued 8,362,801 shares of Common
     Stock and warrants to purchase an additional 1,773,899 shares of Common
     Stock for total gross proceeds of $25,309,000. The warrants are exercisable
     for five years and have an exercise price of $0.75 per share.

4.   On May 15, 2000 the Company acquired all of the outstanding shares of
     Allegro Cell Systems, Inc. (Allegro) in exchange for 288,000 shares of
     GenStar common stock, and an obligation to issue an additional 12,000
     shares of common stock. Allegro has a license to certain technologies for
     the treatment and prevention of AIDS and for lentiviral gene therapy.
     Allegro has no products, revenues, employees, facilities or other assets.
     The shares issued to acquire the technologies were valued at $1,633,000
     based on the fair market value of our common stock on the date of the
     agreement and was charged to acquired in-process technology due to the
     early stage of development of the technology.

                                       5
<PAGE>

                       GENSTAR THERAPEUTICS CORPORATION
                            (Formerly UroGen Corp.)
                       (A Development Stage Enterprise)


Item 2.  Management's Discussion and Analysis of Financial Condition and Results
of Operation

OVERVIEW

GenStar Therapeutics Corporation changed its name from UroGen Corp. in March
2000. GenStar commenced operations as a stand-alone entity in January 1996 and
has been in the development stage since inception. Our original mission was to
develop products to treat diseases in urology, with a particular interest in
prostate cancer. We had licensed technology that uses the IL-3 gene to treat
several types of cancer, but did not have the technology to deliver the gene. On
July 8, 1998, we entered into an agreement with Baxter Healthcare Corporation in
which we acquired the exclusive rights to gene delivery technologies and
laboratory equipment. The gene delivery technology will be used to enhance our
existing technology and to develop products to deliver other genes. We believe
that the gene delivery technology provides a higher level of expression of the
gene being delivered compared to other gene therapy approaches. Prior to our
license of the technology, Baxter had been developing this technology for the
treatment of hemophilia and cancer and has continued to fund the development of
our Factor VIII product for hemophilia.

In exchange for the exclusive license to the gene delivery technology and
equipment, we issued 1,841,219 shares of common stock and 5,830 shares of Series
A Preferred Stock to Baxter. The assets acquired from Baxter were valued based
on the fair market value of our common stock on the date of the agreement. We
obtained an appraisal of the value of the equipment acquired. Based upon the
very early stage of development of the technology, the value of the technology
was charged to acquired in-process technology.

In May 2000, we acquired all of the outstanding shares of Allegro Cell Systems,
Inc. (Allegro) in exchange for 288,000 shares of GenStar Common Stock, and an
obligation to issue an additional 12,000 shares of common stock. Allegro has a
license to certain technologies for the treatment and prevention of AIDS and for
lentiviral gene therapy. Allegro has no products, revenues, employees,
facilities or other assets. Based upon the very early stage of development of
the technology, the value of the technology was charged to acquired in-process
technology.

The technology for the treatment of AIDS is based upon vaccination with a
genetically modified HIV virus. The modified virus is incapable of replication
and suitable for administration to humans. The modified virus is still capable
of infecting cells and expressing HIV genes resulting in the generation of
immune responses that eradicate HIV infected cells. The lentiviral gene therapy
delivery technology was designed for therapeutic applications.

Our current activities consist of the development of the gene transfer system in
our Factor VIII Mini-Ad product for hemophilia, our tumor killing IL-3 viral
vector product for prostate cancer, and AIDS and lentiviral gene therapy
development work. We anticipate defining additional uses for our vector
technology and potentially acquiring other technologies. We expect to incur
increasing research and development expenditures as we focus our efforts on
further development of these products. We expect no product revenues in the near
future and to incur significant losses for at least the next five years.

                                       6
<PAGE>

RESULTS OF OPERATIONS

Revenues

GenStar has generated revenues to date of $1,032,000 from contract research
agreements and grants. Total revenues for the six months ended June 30, 1999 and
2000 were $51,000 and $73,000, respectively, and for the three months ended June
30, 1999 and 2000 were $51,000 and $40,000, respectively. All revenue during
1999 and 2000 was from grants. We anticipate seeking additional research
agreements and grants to help fund research and development efforts; however, we
do not expect that contract research will result in significant revenues in the
future. We do not anticipate revenues from products for at least five years.

Research and development and acquired in-process technology

Research and development and acquired in-process technology expenses increased
$2,910,000 to $4,057,000 during the six months ended June 30, 2000 compared to
$1,147,000 for the six months ended June 30, 1999. During the three months ended
June 30, 2000 research and development and acquired in-process technology
increased $2,464,000 to $3,072,000 compared to $608,000 for the three months
ended June 30, 1999. Research and development and acquired in-process technology
expenses increased in both the first six months and the second quarter of 2000
compared to the same periods of 1999 due principally to the acquisition of
Allegro, which resulted in a charge to write-off acquired in-process technology
of $1,633,000 during the second quarter of 2000. Additionally, research and
development costs have increased due to an increase in research and development
activity and the commencement of operations of our manufacturing facility in the
first quarter of 2000. We anticipate increasing research and development
expenditures in the future as we conduct preclinical and clinical testing
necessary to bring our products to market and to establish manufacturing
capabilities.

General and administrative expense

General and administrative expense increased $597,000 during the six months
ended June 30, 2000 to $1,003,000 compared to $406,000 for the six months ended
June 30, 1999. During the three months ended June 30, 2000 general and
administrative expense increased $459,000 to $670,000 compared to $211,000 for
the three months ended June 30, 1999. General and administrative expenses
include the costs of our administrative personnel and consultants, office lease
expenses and other overhead costs, including legal and accounting costs. General
and administrative expenses have increased related to the increased level of
operations, and we expect general and administrative expenses to continue to
increase to support our increasing research and development activities.

Interest income and expense

Interest income increased $490,000 during the six months ended June 30, 2000 to
$498,000 compared to $8,000 for the six months ended June 30, 1999. During the
three months ended June 30, 2000 interest income increased $332,000 to $337,000
compared to $5,000 for the three months ended June 30, 1999. Interest income is
a result of the investment of excess cash in money market accounts and U.S.
Government Bonds. Interest expense decreased $297,000 for the six months ended
June 30, 2000 to $52,000 compared to $349,000 for the six months ended June 30,
1999. During the three months ended June 30, 2000 interest expense decreased
$258,000 to $32,000 compared to $290,000 for the three months ended June 30,
1999. Interest expense in 1999 related to convertible notes payable which were
converted to Common Stock in June 1999. Interest expense in 2000 relates to
equipment financing.

                                       7
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

Net cash used by operating activities during the six months ended June 30, 1999
and 2000 was $1,910,000 and $2,672,000, respectively. Net cash used by operating
activities consists primarily of GenStar's net loss increased by non-cash
expenses. Net cash used by investing activities during the six months ended June
30, 1999 and 2000 of $38,000 and $739,000, respectively, and consists of the
purchase of furniture and equipment. Net cash provided by financing activities
during the six months ended June 30, 1999 of $1,862,000 consists primarily of
$1,441,000 paid by Baxter under the credit agreement for development of the
hemophilia product and $400,000 of proceeds from convertible notes payable. Net
cash provided by financing activities of $26,704,000 for the six months ended
June 30, 2000 consists primarily of net proceeds from the sale of common stock
and warrants for common stock of $23,781,000, proceeds from convertible notes
payable of $750,000 and $2,230,000 paid by Baxter under the aforementioned
credit agreement.

GenStar's future capital requirements will depend on many factors, including
scientific progress in our research and development programs, our ability to
establish collaborative arrangements with others for drug development, progress
with preclinical and clinical trials, the time and costs involved in obtaining
regulatory approvals and effective commercialization activities. Medstone
International, Inc. funded all of GenStar's operations from July 1, 1991
(inception) through and ending with a $500,000 capital contribution of cash on
February 9, 1996. In July 1998, we completed an offering of 8% Convertible
Subordinated Notes due June 30, 1999, which raised $1,030,000, which was
converted to common stock on June 22, 1999. In April 1999, we completed another
offering of Convertible Subordinated Notes due March 30, 2000, which raised
$400,000, which was converted to common stock on June 22, 1999. During the
quarter ended March 31, 2000, we completed the private placement of 8,362,801
shares of common stock and warrants to purchase an additional 1,773,899 shares
of common stock. Net proceeds from these financings was $23,426,000. GenStar has
incurred net losses of $20,809,000 since its inception and has never been
profitable during its existence. We expect to incur significant additional
operating losses over the next several years as our research and development
efforts expand. Our ability to achieve profitability depends upon our ability,
alone or with others, to successfully complete development of products, obtain
required regulatory approvals and manufacture and market products. We cannot
assure you that we will be successful or that we will attain significant
revenues or profitability. Our operations to date have consumed substantial
amounts of cash. The negative cash flow from operations is expected to continue
and to accelerate for at least the next five years. The development of our
products will require a commitment of substantial funds to conduct the costly
and time-consuming research, preclinical and clinical testing necessary to bring
our products to market and to establish manufacturing and marketing
capabilities.

Under the terms of our Developmental Collaboration Agreement and Credit
Agreements with Baxter, Baxter is required to provide funding for development of
the hemophilia product until we commence a Phase I Clinical Trial for the
hemophilia product, at which time a milestone payment of $2,000,000 is due from
Baxter. The funding provided by Baxter is in the form of a note payable, which
can be converted to Series B Preferred Stock at our option on December 31 of
each year of the agreement. The $2,000,000 milestone payment is in the form of a
purchase of Series C Preferred Stock.

We anticipate our existing capital resources, including funds received from
Baxter under the Developmental Collaboration Agreement, will enable us to
maintain our current and planned operations for at least the next two years. We
will need to raise substantial additional capital to fund future operations. We
intend to seek additional funding either through collaborative arrangements or
through public or private equity or debt financings. Additional financing may
not be available on acceptable terms or at all. If adequate funds are not
available, we may be required to delay or reduce the scope of our operations or
to obtain funds through arrangements with collaborative partners or others that
may require

                                       8
<PAGE>

us to relinquish rights we may otherwise have.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

At June 30, 2000, the Company's cash and cash equivalents were invested in
liquid checking and money market accounts, and will not change significantly in
value if interest rates change. Accordingly, an immediate 10% change in interest
rates would not have a material impact on our financial condition or results of
operations.

The Company does not conduct business with foreign entities, and does not have
any foreign exchange risk.


                          PART II.  OTHER INFORMATION
                          ---------------------------


Item 1.  LEGAL PROCEEDINGS

     None.

Item 2.  CHANGES IN SECURITIES

          1)   In May 2000, the Company registered 5,316,832 shares of Common
               Stock, $.001 par value per share of GenStar Therapeutics, Inc.,
               to be issued pursuant to the Company's 1999 Stock Plan, 1995
               Stock Plan and 1995 Director's Option Plan.

Item 3.  DEFAULTS UPON SENIOR SECURITIES

     None.

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     None.

Item 5.  OTHER INFORMATION

     Market for Registrant's Common Equity
     None of the shares of capital stock of the Company issued in the
     Distribution or otherwise, or acquired through the exercise of stock
     options could be sold prior to December 31, 1997 except for the following
     transfers: (i) transfers by gift, will, bequest or the applicable laws of
     descent and distribution; (ii) non-sale distributions by partnerships,
     corporations or trusts to their partners, shareholders or beneficiaries;
     (iii) transfers to the Company; and (iv) transfers pursuant to qualified
     domestic relations order as defined by the Code or the rules thereunder. In
     the case of any such permitted transfers, the shares in the hands of the
     transferees will continue to be subject to the same transfer restriction.
     No market for the Company's shares of

                                       9
<PAGE>

     capital stock existed prior to January 1, 1998. The Company trades under
     the symbol GNT on the American Stock Exchange.

Item 6.  EXHIBITS AND REPORTS ON FORM 8-K

     Exhibit 27     Financial Data Schedule



                                  SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant has
caused this Report to be signed on its behalf by the undersigned, hereunto duly
authorized.



                                 GENSTAR THERAPEUTICS CORPORATION
                                 --------------------------------
                                 A Delaware Corporation



Date:  August 4, 2000            /s/  Carin D. Sandvik
                                      -----------------------
                                      Carin D. Sandvik
                                      Controller, Chief Accounting Officer &
                                        Secretary
                                      (Principal financial and accounting
                                         officer)

                                       10