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Targacept tanks after TC-5214 goes down the drain

By Marie Powers
Staff Writer

Wednesday, July 30, 2014
Shares of Targacept Inc. (NASDAQ:TRGT) fell to a 52-week low of $2.76 Tuesday after the company disclosed late Monday that it was sacking lead compound TC-5214 in the treatment of overactive bladder (OAB) after top-line phase IIb findings failed to show statistical significance in improving urinary incontinence.

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