Chicago, IL 4/9/12 (StreetBeat) -- Targacept (Nasdaq: TRGT) said an error in the analysis of a drug it recently studied as a potential treatment for asthma affected the results, though the drug is still under consideration for further development.In March. Winston-Salem-based Targacept said the drug known as TC-6987 met both the primary endpoints of an exploratory Phase 2 study as a potential asthma treatment. TC-6987 is meant as an adjunct treatment that would be used alongside low-dose inhaled corticosteroids such as Flovent or Asmanex, or as a stand-alone treatment.
But in a new press release the company said an “error in the application of the agreed statistical analysis plan” resulted in a change in the reported measurements of lung function, and of one of the two primary endpoints no longer being met successfully.
CEO Don deBethizy said despite the change it is still the case that the trial signaled potential for the drug.
“We are in the process of considering potential next steps for this compound and indication,” he said. “We regret not having discovered the statistical analysis error initially.”
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