Targacept Drops on Depression Drug Setback With AstraZeneca
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Targacept Inc., developer of an experimental depression treatment with AstraZeneca Plc., plunged 36 percent after the drug failed to meet the main goal of a second trial.
Targacept fell $2.79 to $4.99 at the close of New York trading. The shares of the Winston-Salem, North Carolina-based company have dropped 81 percent this year.