Targacept, Inc. (TRGT) Reports Third Quarter 2012 Financial Results
11/7/2012 9:26:49 AM
WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics™, today reported its financial results for the third quarter and nine months ended September 30, 2012. Targacept reported a net loss of $7.9 million for the third quarter of 2012, compared to a net loss of $9.1 million for the third quarter of 2011. For the nine months ended September 30, 2012, Targacept reported net income of $8.9 million, compared to net income of $1.3 million for the corresponding period of 2011. As of September 30, 2012, cash and investments in marketable securities totaled $195.6 million.