Targacept, Inc. is a biopharmaceutical company. The Company is engaged in the design, discovery and development of NNR Therapeutics for the treatment of diseases and disorders of the nervous system. The Company's NNR Therapeutics target neuronal nicotinic receptors (NNRs). As of December 31, 2011, the Company had multiple clinical-stage product candidates and preclinical programs in areas. The Company's drug discovery activities utilize computer-based molecular design methodologies and biological and chemical data for a library of diverse compounds developed and collected. The Company refers to these technologies collectively as Pentad. Its clinical-stage product candidates include TC-5214, TC-5619, TC-6987, AZD3480 (TC-1734), AZD1446 (TC-6683), TC-6499 and TC-6987.