- After rallying nearly 9% in the regular session on four times its 10-day average volume, Targacept (TRGT) is out with top-line data from a Phase 2b study of TC-5619 for the negative symptoms of schizophrenia.
- The trial missed its primary endpoint (change from baseline on SANS).
- TC-5619 also missed its key secondary outcome measure (cognitive function).
- TRGT will "not pursue further development of TC-5619 as a treatment for either schizophrenia or Alzheimers disease."
- Going forward, the company will focus on TC-5214, TC-1734, and TC-6499. (PR)
- Update 4:41: Trading has resumed with shares off 32%.
Targacept's TC-5619 misses in Phase 2b schizophrenia study
Dec 16 2013, 16:17 ET