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Targacept, Inc. (TRGT) Considering Downsizing in Wake of Failed Drug



3/21/2012 8:33:12 AM

The failure of Targacept Inc.'s most promising drug compound to date is likely to deliver more body blows, analysts said Tuesday. This time, management acknowledged that the impact could reach beyond its research portfolio and share price to affect its Winston-Salem workforce of 150. Targacept, an anchor tenant in Piedmont Triad Research Park, announced Tuesday with licensing partner AstraZeneca PLC the failure of the final two of four Phase 3 clinical trials of its TC-5214 compound, designed to treat depression.

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