Targacept’s top executives received nearly $600,000 in bonuses for 2007, according to a filing with the Securities and Exchange Commission.
President and CEO J. Donald deBethizy received a bonus of $216,000.
Also receiving bonuses were: Merouane Bencherif, vice president of preclinical research, $101,072; Jeffrey Brennan, vice president of business and commercial development, $119,831; Geoffrey Dunbar, vice president of clinical development and regulatory affairs, $131,177; and Alan Musso, vice president and chief financial officer, $119,505.
During the year, Targacept secured a drug-development deal with GlaxoSmithKline that could be worth hundreds of millions of dollars. The company also reported progress in a development deal with AstraZeneca.
