Targacept to expand in Winston-Salem
Targacept will retrench and expand at the Piedmont Triad Research Park, adding 17,000 additional lab and office space to its lease at the Winston-Salem business complex.
The publicly traded biopharmaceutical company already occupies about 40,000 square feet of space at the research park. The company's renewed lease will run through July 2012, the downtown park announced today.
Targacept went public last April, and the news of its local expansion follows on some recent advancements. The company's shares climbed back above $9 this month for the first time since Targacept began trading on the NASDAQ. The company stock closed at $8.73 Tuesday.
In December, Targacept announced the continued development of its drug candidate to treat Alzheimer's disease. The company also recently has reported the kick-off of further clinical trials for a drug to treat post-operative pain and a drug to treat depression and anxiety disorders.