Targacept Added to NASDAQ Biotechnology Index
Winston-Salem, North Carolina
November 16, 2009
Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing a new class of drugs known as NNR Therapeutics™, today announced that it has been selected for addition to the NASDAQ Biotechnology Index (NASDAQ: NBI) effective with the U.S. market open on Monday, November 23, 2009.
“We are pleased to have earned selection to join the NASDAQ Biotechnology Index, which further validates the tremendous progress Targacept has made during 2009,” said J. Donald deBethizy, Ph.D., Targacept's President and Chief Executive Officer. “Our inclusion in this index advances Targacept’s visibility as we continue to execute our mission of developing NNR Therapeutics to treat complex diseases and disorders and improve patients’ lives.”
The NASDAQ Biotechnology Index includes securities of Nasdaq-listed companies that are classified according to the Industry Classification Benchmark as either Biotechnology or Pharmaceuticals and meet minimum requirements for market capitalization, average daily trading volume and seasoning as a public company, as well as other eligibility criteria. The index is re-ranked on a semi-annual basis in May and November. Additional information about the NASDAQ Biotechnology Index, including eligibility criteria, is available at https://indexes.nasdaqomx.com/.
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, in support of its vision of building health and restoring independence for patients. 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. Targacept’s news releases are available on its website at www.targacept.com.
Contacts:
Alan Musso, VP and CFO
Targacept, Inc.
Tel: (336) 480-2186
Email: alan.musso@targacept.com
Michelle Linn
Linnden Communications
Tel: (508) 362-3087
Email: linnmich@comcast.net
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