(Source: Business Wire)
Targacept, Inc. (NASDAQ:TRGT)
announced today that the recently announced underwritten public offering
of 2,200,000 shares of its common stock has been priced at a price to
the public of $21.00 per share. As previously announced, Deutsche Bank
Securities will act as sole manager for the offering andTargacept has
granted Deutsche Bank Securities an option to purchase an additional
320,000 shares of common stock to cover over-allotments, if any.
The offering is being made pursuant to an effective shelf registration
statement that Targacept previously filed with the Securities and
Exchange Commission. This press release does not and shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction. This offering is being made pursuant to a
prospectus supplement included as part of the registration statement.
Copies of the prospectus supplement relating to this offering, when
available, may be obtained by contacting Deutsche Bank Securities Inc.,
Deutsche Bank Securities, Prospectus Department, Harborside Financial
Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone:
1-800-503-4611. Targacept expects the offering to close on October 13,
2009, subject to satisfaction of customary closing conditions.
About Targacept
Targacept is a clinical-stage biopharmaceutical company that discovers
and develops NNR Therapeutics, a new class of drugs for the treatment
of central nervous system diseases and disorders. Targacept's product
candidates selectively modulate neuronal nicotinic receptors that serve
as key regulators of the nervous system to promote therapeutic effects
and limit adverse side effects. Targacept has clinical-stage product
candidates in development for major depressive disorder, attention
deficit/hyperactivity disorder, Alzheimer's disease and cognitive
dysfunction in schizophrenia, as well as multiple preclinical programs.
Targacept also has a cognition-focused collaboration with AstraZeneca
and a strategic alliance with GlaxoSmithKline.
NNR Therapeutics is a trademark of Targacept, Inc.
A service of YellowBrix, Inc.
