Anyone still following TRGT? The results of the AZ were inconclusive. How does this effect next steps for TRGT?
"Targacept Inc. (TRGT) said results of a Phase IIb study of AZD3480 in Alzheimer's disease, in which the company collaborated with AstraZeneca PLC (AZN), were inconclusive.
Shares of Targacept dropped 41% to $5 in after-hours trading, well below the previous 52-week low of $6.80 set on Dec. 3. Shares had closed down 6.9% at $8.46 in regular trading. AstraZeneca shares were unchanged after hours at $44.94.
Targacept said that in the 12-week placebo-controlled study, known as the Sirocco trial, neither the active comparator donepezil nor AZD3480 met the trial's criteria for statistical significance on the primary outcome measure. Both results were affected by an improvement in the placebo group.
However, at two of the three doses tested, AZD3480 showed an improvement in patients' behavior and ability to function, as well as on a quantitative cognition scale commonly used by neurologists in a clinical setting.
Of the three AZD3480 doses, the middle dose performed best. Donepezil also showed improvement. AZD3480 exhibited an overall safety and tolerability profile comparable to placebo in the trial, with fewer gastrointestinal-related adverse events - diarrhea, nausea and vomiting - than donepezil.
Targacept said analyses of the full data set from the Sirocco trial are ongoing, and that a decision by AstraZeneca with respect to further development of AZD3480 is expected in December.
AZD3480 is also being evaluated in a Phase IIb trial in cognitive dysfunction in schizophrenia as well as a Phase II exploratory study in adult attention deficit/hyperactivity disorder.
-Jonathan Vuocolo; 201-938-5400; AskNewswires@dowjones.com" |
