February 10, 2014 / 10:16 PM / 4 years ago

AstraZeneca returns several compounds to Targacept

(Reuters) - Biotech company Targacept Inc TRGT.O said British drugmaker AstraZeneca (AZN.L) would return rights to several pre-clinical compounds, sending the U.S. company’s shares down 10 percent in extended trading.

A licensing agreement, signed in 2005, continues for the remaining compounds, including AZD1446, a potential treatment for Alzheimer’s disease.

    The amendment to the agreement becomes effective 90 days after February 7, Targacept said in a filing with the U.S. Securities and Exchange Commission. (r.reuters.com/xuh76v)

    Targacept shares closed at $4.96 on the Nasdaq on Monday.

    Reporting by Shailesh Kuber; Editing by Don Sebastian

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below