Pain Therapeutics, Inc. (NASDAQ: PTIE) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced the successful completion of a Phase 1 clinical trial, leading to excitement among investors who are sending the stock on an explosive ride upward. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:34), PTIE is trading at $6.08 per share after a gain of $2.34 per share or 62.57% thus far today.
PTIE Gains On Successful Study Completion
As mentioned above, Pain Therapeutics is having an overwhelmingly strong start to the trading session this morning after the company announced the successful completion of a Phase 1 clinical trial. The study was assessing PTI-125, an experimental drug therapy that’s designed to treat Alzheimer’s Disease. This was the first ever study to assess the safety, dosing and pharmacokinetic profile of PTI-125 in healthy human volunteers.
In the press release, PTIE announced that the PTI-125 treatment was well-tolerated in all doses studied. On top of that the treatment demonstrated favorable pharmacokinetics for further drug development. This is overwhelmingly positive news as this means that the company will likely be progressing PTI-125 into Phase 2 clinical studies. In a statement, Remi Barbier, President and CEO at PTIE, had the following to offer:
“The clinical data are encouraging… Given the absence of dose-limiting effects in healthy adults, an excellent non-clinical safety database, a strong scientific rationale, and multiple peer-reviewed publications and research grant awards, we are eager to move this drug program to the next level of development.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PTIE. In particular, we’re interested in following the story surrounding PTI-125 and excited to watch as the treatment progresses into the next phase of studies. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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