- As of August 20, 2015, Targacept, Inc. was acquired by Catalyst Biosciences (CBIO).
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Shares of Targacept Inc. (TRGT) tumbled 57% to $8.20 Tuesday morning on news that initial results from a Phase III study for its antidepressant TC-5214 failed to show it was effective in treating major depressive disorder. The study was the first of four Phase III trials. Results from all of the trials are expected by the first half of 2012. Targacept is co-developing the drug with U.K. drug maker AstraZeneca PLC (AZN) , shares of which were down 3%. The companies said they still hope to file for U.S. approval during the second half of 2012.**daily **
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