Rock Creek Pharmaceuticals Inc. (fka RCPIQ)

[haysaw]

TRGT-The hits keep coming at 'em. Still have over $100m in cash though. The two companies should talk: Mullan/RCPI really needs capital, and TRGT needs a drug...badly:

http://finance.yahoo.com/news/targacept-announces-negative-top-line-123000914.html

Targacept Announces Negative Top-Line Results from Exploratory Study of TC-6499 in Diabetic Gastroparesis

WINSTON-SALEM, NC--(BUSINESS WIRE)--

Targacept, Inc. (TRGT) today announced top-line results from a Phase 1/2 exploratory study of TC-6499 as a treatment for diabetic gastroparesis, a chronic disorder that slows or stops the passage of food from the stomach to the small intestine. In the trial, TC-6499 did not meet the primary endpoint of the study, change in gastric emptying half-time (BT_t1/2), as measured by a carbon (13C) labeled gastric emptying breath test, relative to placebo.

“The results we saw do not support the prior signal we had seen suggesting that TC-6499 might increase gastric motility in this patient population,” said Dr. Stephen A. Hill, Targacept’s President and Chief Executive Officer. “While TC-6499 did demonstrate a positive safety and tolerability profile in this study, these results do not warrant further development of TC-6499 in this therapeutic area.”

About the Study

The Phase 1/2 exploratory study was a double-blind, placebo-controlled, randomized, four-way crossover study conducted at seven sites in the United States. A total of 21 subjects with diabetic gastroparesis completed the study and received one of four treatments (2mg, 5mg and 10mg of TC-6499 and placebo) in a randomized, crossover manner on each of four treatment visits, with each dosing period separated by approximately seven days. The primary endpoint of the study was change in gastric emptying half-time (BT_t1/2), as measured by a carbon (13C) labeled gastric emptying breath test, for each active treatment relative to placebo. The study also assessed the safety, tolerability and pharmacokinetics of TC-6499.


Targacept has historically focused on developing NNR Therapeutics™ to treat patients suffering from serious nervous system and gastrointestinal/genitourinary diseases and disorders. Targacept is dedicated to building health and restoring independence for patients. For more information, please visit www.targacept.com.