Targacept arranges $40 million at-the-market issuance sales agreement

Offering will be conducted by agent MLV

By Devika Patel

Knoxville, Tenn., Nov. 26 - Targacept Inc. negotiated a $40 million at-the-market issuance sales agreement with MLV & Co. LLC on Nov. 26, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

MLV will be paid a 3% commission.

Targacept, based in Winston-Salem, N.C., is a biopharmaceutical company that develops drugs to target neuronal nicotinic receptors.

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