Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company advancing NNR Therapeutics™, today reported its financial results for the second quarter and six months ended June 30, 2014.
Targacept reported a net loss before income taxes of $8.1 million for the second quarter of 2014, compared to $12.4 million for the second quarter of 2013. For the six months ended June 30, 2014, Targacept reported a net loss before income taxes of $19.7 million compared to $20.4 million for the corresponding 2013 period. As of June 30, 2014, cash and investments in marketable securities totaled $122.8 million.
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