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 first quarter ended March 31, 2012. Targacept reported net income of $2.3 million for the first quarter of 2012, compared to $12.6 million for the corresponding 2011 period. As of March 31, 2012, cash and investments in marketable securities totaled $223.7 million.
