July 14 (Reuters) - Targacept Inc said its experimental Alzheimer's drug did not show superiority over standard medication in a mid-stage study and that it would no longer invest in the development of the treatment.
The company's shares were down about 16.44 percent.
The drug, TC-1734, was being tested against Pfizer Inc's donepezil.
(Reporting By Amrutha Penumudi; Editing by Don Sebastian)
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