Back on Targacept

When Targacept postponed and later pulled its IPO last year, the company had both external and internal factors working against it. Externally, the company was on the road in the first quarter - the dismal one that saw the BioCentury 100 Index fall 14%. Internally, the company was somewhat light on milestones for the year.

Now, the neurology company is back for a second go, last week filing to raise up to $59.8 million through Deutsche Bank; Pacific Growth; CIBC; and Lazard - the same underwriting syndicate from Targacept's first attempt. The difference is that the company now has a big pharma partner for its lead compound, and a string of data events expected this year. ...