Targacept Depression Drug Hits the Mark

Targacept(TRGT Quote) said Wednesday that its experimental drug TC-5214 was able to improve the symptoms of depression in patients who don't respond well to a currently prescribed drug, according to results from a phase II study.

The positive news sent shares of the Winston-Salem, N.C-based drugmaker sharply higher in pre-market trading.

In the phase IIb study, patients treated with the combination of TC-5214 plus Celexa, an anti-depressant marketed by Forest Labs(FRX Quote), demonstrated statistically significant improvement in their depression rating scores compared to patients treated with a placebo plus Celexa, the company said. ...