WRAL Tech Wire

Targacept cuts mean focus on existing drug candidates

CEO Don deBethizy says the Winston-Salem based drug firm doesn't plan to advance new preclinical drug candidates in the near term "until we restore the shareholder value."

Targacept's HQ

Earnings reports: SciQuest, PowerSecure, Furiex, Targacept

Profits for SciQuest, Targacept; in the red for PowerSecure, Furiex.

In wake of drug failure, Targacept to realign resources

Targacept must now realign its resources to focus on its other programs, including an experimental Alzheimer's disease treatment that remains partnered with AstraZeneca.

Drug firm Targacept to slash 46% of work force

The Winston-Salem based firm is slashing its workforce by nearly half, part of a restructuring plan that comes one month after its lead drug candidate, a depression drug, failed the last of a series of phase 3 clinical trials.

Targacept's Headquarters

Oops: Targacept lowers asthma drug candidate results

The Winston-Salem based firm last month released top-line phase 2 results for a compound that showed the it met both goals in the clinical trial. But Targacept now says the discovery of a "statistical analysis error" now shows they met just one of the two phase 2 endpoints.

Targacept

Targacept drug candidate shows promise against asthma

However, a trial of the same compound to combat type 2 diabetes failed. The Winston-Salem based firm will drop its further develoment as a diabetes target.

Targacept gears for changes after antidepressant drug candidate failure

Two clinical trials of a treatment for major depressive disorder result in failure of the proposed antidepressant.

2012 shaping up as crucial year for WS-based Targacept

As three key clinical trials continue, Targacept does not yet have any approved products. CFO Alan Musso notes that the company has enough cash to last through the end of 2014.

Targacept's drug pipeline

AstraZeneca sticks with Targacept on Alzheimer's drug development

The drug giant will conduct and fund phase 2 clinical trials of AZD1446, a compound that emerged from the partnership between AstraZeneca and Winston-Salem-based Targacept.

Targacept pushes ahead on its own with trials of two potential drugs

A compound called TC-5619 is being tested for treatments of schizophrenia and attention deficit-hyperactivity disorder.

Drug failure sends Targacept stock down 60%

Targacept's compound called TC-5214, which targets major depressive disorder, "did not meet its primary endpoint" in the Phase 3 clinical trial, the Winston-Salem based biopharma company says. CEO says other trials will continue.

Targacept's drug pipeline

Drug failure sends Targacept stock down 60%

Targacept's compound called TC-5214, which targets major depressive disorder, "did not meet its primary endpoint" in the Phase 3 clinical trial, the Winston-Salem based biopharma company says. CEO says other trials will continue.

Targacept's HQ

Targacept to move forward with anti-depressant trials

Failure in a Phase 3 clinical trial of a possible treatment of major depressive disorder sinks Targacept shares, but CEO says other trials will proceed.

Tech earnings: Pozen, DexOne, Biocryst, Furiex, Targacept

It's been a busy earnings week, and five North Carolina firms all reported losses.

Targacept to renew tests of potential Alzheimer's drug

A previous study in Alzheimer's disease over three months was inconclusive. Neither AZD3480 or commercially available donepezil met the primary target of the trial. After consulting with experts, the company believes it can get different results in a longer clinical study.