On Air Now

Listen

Listen Live Now » 98.5 FM Battle Creek, Michigan

Weather

Current Conditions(Battle Creek,MI 49017)

More Weather »
73° Feels Like: 73°
Wind: WSW 7 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 88°

Tonight

Scattered Thunderstorms 66°

Tomorrow

Partly Cloudy 75°

Alerts

Targacept ends Alzheimer's drug trial after mid-stage failure

(Reuters) - Targacept Inc said it was ending a mid-stage trial on its Alzheimer's drug as it did not show superiority over standard medication, sending its shares down as much as 19.8 percent.

The drug, TC-1734, which was being tested against Pfizer Inc's donepezil, had earlier failed another mid-stage trial conducted by partner AstraZeneca Plc.

"Based on (today's) results, we do not intend to invest in further development of TC-1734," Targacept Chief Executive Stephen Hill said.

UK-based AstraZeneca returned rights to the drug in March but the companies continue to co-develop another Alzheimer's drug, AZD1446.

The latest failure marks another setback to Targacept's already thinning pipeline. In September, the company discontinued the development of its schizophrenia drug, TC-5619 after it failed a mid-stage study.

(Reporting By Amrutha Penumudi; Editing by Don Sebastian)

Comments