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Targacept axes OAB drug development after Phase 2 fails

  • After its drug candidate for overactive bladder (OAB), TC-5214, failed to reach one of its co-primary endpoints in a 768-patient Phase 2b clinical trial, Targacept (TRGT) pulls the plug on the development program.
  • TC-5214 achieved a statistically significant reduction in micturation frequency but failed to achieve statistical significance on episodes of urinary incontinence over 24 hours after 12 weeks of treatment.
  • CEO Dr. Stephen A. Hill says, "Although TC-5214 provided dose-dependent efficacy on several endpoints during the course of treatment, the results were not compelling enough to justify the compound's continued development in overactive bladder."
  • TRGT shares are down 32% AH on light volume (2,600 shares).
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