Biopharma firm Targacept reports $2.5 million net income for Q3

WINSTON SALEM, N.C. – Targacept (Nasdaq: TRGT) reported net income of $2.5 million in the third quarter Thursday, nearly double the $1.3 million of a year ago.

The biopharmaceutical firm recognized $18.3 million of a $200 million upfront payment from drug development partner AstraZeneca in January.

Targacept and AstraZeneca are working on a compound that could treat major depressive disorder.

The company also has numerous other products under development.

For the earnings report and an update of Targacept’s various drug programs,

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