Aug 27, 2010 10:04 AM PDT
San Diego, CA Jul 09, 2009
The Small Cap Network (smallcapnetwork.com), a leading online investment community focused on small cap companies, has issued an analysis of Targacept Inc. (TRGT) following the company's announcement on Wednesday regarding its ADHD treatment AZD3480. The NNR Therapeutic (TM) is being developed by Tagacept partner AstraZeneca, which agreed to pay Targecept $10 million for the right to continue developing the deficit/hyperactivity disorder drug.
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The agreement between AstraZeneca and Targacept could eventually mean a $100 million milestone payment for Targecapt if additional development and sales objectives are met. If AZD3480 is found to be effective and marketable in the treatment of other ailments, royalty payments to Targecept could increase even further.
About Targacept Inc.
Targacept Inc. (TRGT) is a clinical-stage biopharmaceutical company that discovers and develops NNR Therapeutics (TM), a new class of drugs for the treatment of central nervous system diseases and disorders. Targacept's product candidates selectively modulate neuronal nicotinic receptors that serve as key regulators of the nervous system to promote therapeutic effects and limit adverse side effects. Targacept has clinical-stage product candidates in development for major depressive disorder, Alzheimer's disease, attention deficit/hyperactivity disorder, cognitive dysfunction in schizophrenia and resistant hypertension, as well as multiple preclinical programs. Targacept also has a cognition-focused collaboration with AstraZeneca and a strategic alliance with GlaxoSmithKline. Targacept's news releases are available on its website at www.targacept.com.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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