Thursday, March 5, 2015
Biotech Investing: Targacept (TRGT) Announces Merger
I just wrote last month about my position in Targacept and the possibility of a merger. It was just announced 15 minutes ago that they will merge with privately held Catalyst Biosciences. Catalyst currently has a partnership with Pfizer for its lead compound, PF-05280602. Targacept will own 35% of the newly formed company and received a cash distribution.