Friday, February 18, 2011

Targacept Reports Profitability in 2010

Due to payments from drug development partner AstraZeneca, Targacept, a biopharmaceutical company located in Winston-Salem, recorded profitability for 2010. Targacept reported a net income of nearly $11M, which was roughly a $50M turnaround from 2009.

Targacept, Inc. is focused on the development of a new type of drugs, NNR Therapeutics, for the treatment of diseases and disorders of the nervous system. (

Targacept, Inc. joined the CED community in 2004 and has sponsored CED’s Biotech Life Science conference for the past 6 years.  Jeffrey Brennan, a Senior Vice President, is also speaking at this year’s conference during the Entrepreneur Workshop.

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