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Targacept to Report Third Quarter 2010 Financial Results on November 4, 2010

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WINSTON-SALEM, NC--([ BUSINESS WIRE ])--Targacept Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics (TM), today announced that it will report financial results for the third quarter ended September 30, 2010 on Thursday, November 4, 2010, after the U.S. financial markets close.

Management will discuss the third quarter results, provide an update on the companya™s product development programs and business activities and discuss expectations for the future via conference call at 5:00 p.m. Eastern Daylight Time on Thursday, November 4, 2010. The conference call may be accessed by dialing (800) 291-5365 for domestic participants and (617) 614-3922 for international callers (reference passcode 12434137). A replay of the conference call may be accessed from approximately 8:00 p.m. Eastern Daylight Time on November 4, 2010 through November 18, 2010 by dialing (888) 286-8010 for domestic callers and (617) 801-6888 for international callers (reference passcode 54926435).

A live audio webcast of the conference call will be accessible from the Investor Relations page of Targacepta™s website, [ www.targacept.com ]. To ensure a timely connection to the webcast, it is recommended that users register at least 15 minutes prior to the scheduled start time. An archived version of the webcast will also be available for replay on the Investor Calendar section of the Investor Relations page of Targacepta™s website for at least two weeks following the call.

About Targacept

Targacept is developing a diverse pipeline of innovative NNR Therapeuticsa" for difficult-to-treat diseases and disorders of the nervous system. NNR Therapeutics selectively modulate the activity of specific neuronal nicotinic receptors, a unique class of proteins that regulate vital biological functions that are impaired in various disease states. Targacepta™s lead program, TC-5214, is in Phase 3 development as an adjunct treatment for major depressive disorder. Targacept leverages its scientific leadership and proprietary drug discovery platform Pentada" to generate novel small molecule product candidates to fuel its pipeline and attract significant collaborations with global pharmaceutical companies. For more information, please visit [ www.targacept.com. ]

TARGACEPT

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