Targacept management acknowledges layoffs are possible

Targacept has endured a lot lately with the failure of the last two of four Phase III studies of a depression compound on which it was partnered with AstraZeneca ($AZN). Now, company managment has confirmed that the disappointments could lead to layoffs. The company will announce its next course of action in April, CEO Don deBethizy said, according to the Winston-Salem Journal. Story