If the compound Targacept is developing for patients with schizophrenia has a future as a commercialized drug, it will get there without drug partner AstraZeneca. AstraZeneca (NYSE:AZN) is passing up its option to license the drug compound from Winston-Salem, North Carolina drug development company Targacept (NASDAQ:TRGT). The compound, called TC-5619, showed promising results in phase […]
An experimental attention deficit-hyperactivity disorder (ADHD) drug being developed by Targacept in partnership with AstraZeneca (NYSE:AZN) has failed to hit targets set for a mid-stage clinical trial. Winston-Salem, North Carolina-based Targacept, (NASDAQ:TRGT) said results from a phase 2 proof-of-concept trial for the TC-5619 showed that although patients experienced no adverse effects from the compound, the […]
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GlaxoSmithKline's decision to pull back from some neurosciences R&D led to Targacept's decision to end their partnership. The two companies in 2007 struck an agreement to develop new medicines based on Targacept's drug discovery research.
Targacept's collaboration and licensing agreement with AstraZeneca is starting to show on its financial results as the Winston-Salem, North Carolina drug company started to receive some of the $200 million payment from the 2009 agreement. The compound that AstraZeneca has licensed will be advancing into late-stage clinical trials later this year.
Targacept's phase II clinical trial results on its compound to treat schizophrenia put the Winston-Salem, North Carolina company in line for a $30 million milestone payment from AstraZeneca.