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Targacept Cuts Way Back

It hasn’t been good over at Targacept. They had a big antidepressant failure a while back, and last month ended development of an ADHD drug, the nicotinic acetylcholine receptor ligand TC-5619.
They cut back staff back in the spring, and the CEO departed. Now the expected has happened: the company has apparently laid off everyone in research, and is conserving what cash it has to try to get something to the deal-making point. A sad, but familiar story in this business. . .sometimes companies come back after this point, and sometimes the event horizon turns out to have been passed.

5 comments on “Targacept Cuts Way Back”

  1. entropyGain says:

    “event horizon”
    Excellent metaphor – especially when relativistic effects take hold of the ship crossing it and time seems to stretch from the perspective of the passengers…

  2. David Formerly Known as a Chemist says:

    I can’t imagine there are many alternative career opportunities for the laid-off scientists in that biotech mecca known as Winston-Salem, NC. And the RTP area is about as dry these days. It’s a tough industry to be in, that’s for sure.

  3. Anonymous says:

    How about med Chem. Any losses there?

  4. Anonymous says:

    How about med Chem. Any losses there?

  5. Anonymous says:

    #3, nothing left.

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