Thursday, October 9, 2014

Targacept (TRGT) provides update on partnership

Targacept (TRGT) filed an 8K today which stated that their partnership with AstraZeneca was terminated including their Alzheimer's compound AZD1446. This is pretty shitty news for the company as the only glimmer of hope after their recent two phase 2 drug failures was this partnership. The company still has a ton of cash but no real value in the pipeline so expect them to waste the money on an in-license opportunity (Teva just announced they are shedding around 14 development programs under their recently announced restructuring so that could be an opportunity). I currently own 10,000 shares of Targacept which isn't good with this announcement.

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