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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