Market Overview

Pain Therapeutics Shares Double On Clinical Study Data

Share:
Pain Therapeutics Shares Double On Clinical Study Data

Shares of Pain Therapeutics, Inc. (NASDAQ: PTIE) soared higher by more than 150 percent Tuesday after the company announced encouraging results from a study involving its late-stage drug candidate, REMOXY.

What You Need To Know

Pain Therapeutics said that REMOXY, a drug candidate intended to be an abuse-deterrent for opioid, achieved positive results. Specifically, study results among non-dependent, recreational opioid users, found that the nasal administration of REMOXY resulted in significantly lower abuse potential versus immediate-release oxycodone. All of the study subjects reported reduced 'Drug Liking' 'Take Drug Again' and 'Drug High' for REMOXY compared to oxycodone IR.

Why It's Important

"We believe these data indicate REMOXY may have limited nasal abuse potential relative to comparator drugs," said Pain CEO Remi Barbier. "We have now successfully completed all studies necessary to resubmit the REMOXY NDA to the FDA, and plan to do so shortly."

What's Next?

Notable biotech expert Adam Feuerstein isn't particularly impressed with the results. Feuerstein Tweeted somewhat sarcastically, "For those asking me to comment on $PTIE and Remoxy — you already know the answer."

Shares traded around $11.20 at time of publication, up 151 percent.

Related Links:

22 Stocks To Watch After President Trump Declares Opioid Epidemic A National Health Emergency

Pain Therapeutics A Pleasure For Investors

Posted-In: Adam Feuerstein RemoxyBiotech News Health Care Top Stories Movers General Best of Benzinga

 

Related Articles (PTIE)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

LiveOak Technologies Makes Collaboration Digital

Jamie Dimon Slightly Changes Tune On Bitcoin, Says 'The Blockchain Is Real'