X0202 4/A 2007-11-29 2007-12-03 0001124105 TARGACEPT INC TRGT 0001296907 Jones Elaine V C/O EUCLIDSR PARTNERS, L.P. 45 ROCKEFELLER PLAZA, SUITE 3240 NEW YORK NY 10111 1 0 0 0 Common Stock 2007-11-29 4 X 0 20000 9.37 A 20000 D Common Stock 2007-11-29 4 X 0 7500 9.37 A 27500 D Common Stock 2007-11-29 4 J 0 27500 D 0 D Common Stock 2007-11-29 4 J 0 20625 A 1536841 I By EuclidSR Partners, LP Common Stock 2007-11-29 4 J 0 6875 A 378820 I By EuclidSR Biotechnology Associates, L.P. Stock Option (Right to Buy) 9.37 2007-11-29 4 X 0 20000 0 D 2017-05-13 Common Stock 20000 0 D Stock Option (Right to Buy) 9.37 2007-11-29 4 X 0 7500 0 D 2007-05-14 2017-05-13 Common Stock 7500 0 D The Reporting Person is a general partner of EuclidSR Associates, L.P., the general partner of EuclidSR Partners, L.P. and a general partner of EuclidSR Biotechnology Associates, L.P., the general partner of EuclidSR Biotechnology Partners, L.P. Payment of the option exercise price was made by, and the Common Stock issued upon exercise of the Stock Options by the Reporting Person was issued to, EuclidSR Partners, L.P. and EuclidSR Biotechnology Associates, L.P. as set forth in the fourth and fifth lines of Table I of this Form 4/A. This amendment is being filed to reflect that. The Reporting Person disclaims beneficial ownership of such securities except to the extent of her pecuniary interest therein. Vests on the earlier of (i) the last business day prior to the date of the 2007 Annual Meeting of the Issuer's stockholders of (ii) June 29, 2007. /s/Elaine V. Jones 2008-02-11