Targacept neurology news
Targacept provided details on its planned headcount reduction announced last month. The company said it will reduce headcount by 32 (38%) to 43 and close its laboratory operations by year end. The company previously announced the reduction following the discontinued development of TC-5619 after the nicotinic acetylcholine receptor alpha 7 (CHRNA7) agonist missed the primary endpoint in a Phase II trial to treat ADHD. TC-5619 is in Phase II testing treat negative symptoms and cognitive dysfunction in patients with schizophrenia, with data expected in mid-2013 (see BioCentury, Sept. 24).
Targacept's remaining pipeline also includes two neuronal nicotinic acetylcholine receptor alpha(4)beta(2) agonists in development for Alzheimer's disease (AD), which are partnered with AstraZeneca plc (LSE:AZN; NYSE:AZN, London, U.K). AZD1446 ( TC-6683) has completed a Phase I trial, while AZD3480 ( TC-1734) is in Phase IIb testing. Next half, Targacept also plans to start a Phase IIb trial of TC-5214 to treat overactive bladder (OAB). TC-5214 is an S-enantiomer of mecamylamine hydrochloride, a broad spectrum non-competitive nicotinic receptor antagonist (see BioCentury, March 26 & May 7). ...