Targacept, Inc. (TRGT)

[surf1944]

8:57AM Targacept announces revised top-line results from exploratory Phase 2 study of TC-6987 in asthma: study no longer achieves protocol-defined success criteria on primary endpoint of Forced Expiratory Volume (TRGT) 4.85 : Co announced revised top-line results from its exploratory Phase 2 clinical study of TC-6987 in asthma. Following identification of an error in the application of the agreed statistical analysis plan, a reanalysis of the data was undertaken. As compared to the initially reported values, the reanalysis revealed a 2 ml decrease in the change in Forced Expiratory Volume (FEV1) from baseline to pre-dosing on day 28, which resulted in TC-6987 no longer achieving the study's protocol-defined success criteria on that co-primary endpoint. However, TC-6987 continued in the reanalysis to meet protocol-defined success criteria on the study's other co-primary endpoint, change in FEV1 from baseline to two hours post-dosing on day 28. Reanalysis of the post-dose measure revealed an incrementally stronger signal of a drug effect than the initial analysis.