BioCentury
ARTICLE | Clinical News

Targacept falls after discontinuing TC-5619 for schizophrenia, AD

December 17, 2013 12:49 AM UTC

Targacept Inc. (NASDAQ:TRGT) fell $1.95 (33%) to $4 in early after-hours trading late Monday after announcing that it discontinued development of TC-5619 to treat negative symptoms and cognitive dysfunction in patients with schizophrenia after the compound missed the primary endpoint in a Phase IIb trial in the indication. Targacept also said it discontinued development of TC-5619 to treat Alzheimer's disease, for which it was in Phase I testing, based on the lack of improvement in measures of cognitive function seen in the schizophrenia trial. TC-5619 is a neuronal nicotinic acetylcholine receptor alpha 7 (CHRNA7) agonist.

Last year, Targacept restructured after discontinuing development of TC-5619 to treat ADHD after the compound missed the primary endpoint in a Phase II trial in adults with inattentive-predominant ADHD (see BioCentury Extra, Sept. 17, 2012). ...