Pain Therapeutics, Inc. (NASDAQ: PTIE)
Pain Therapeutics has traded relatively flat over the past six months; and they’ve been incredibly quiet in the process. However, it seems as though that is starting to change. Today, the stock is spiking up following an update with regard to the company’s portfolio of drug candidates. Today, we’ll talk about that update, the reaction we saw from PTIE in the market, and what we can expect to see moving forward. So, lets get right to it…
PTIE Updates Its Drug Porfolio
Today, Pain Therapeutics announced an updated to it’s drug portfolio; explaining that there will be several more updates to come. The company now has a clear path to the FDA for the refiling of the REMOXY New Drug Application. The company also made an announcement with regard to proof-of-concept results for an abuse deterrent transdermal pain patch and announced non-dilutive funding for a new drug development initiative in a major indication. Here’s what Remi Barbier, CEO of Pain Therapeutics had to say…
“We’ve substantially completed the transition of REMOXY from our previous corporate partner…We believe the data we’ve seen absolutely supports re-filing the REMOXY NDA. We expect to do so in Q1 2016.”
How Pain Therapeutics Reacted In The Market
The market reaction to PTIE’s recent announcement is exactly what we’ve come to expect in the small-cap biotech sector. Essentially, after staying quiet for six months, Pain Therapeutics stayed flat in the market as investors didn’t know what to expect from the company. However, with this new release of overwhelmingly positive news, we’re starting to see gains in the stock yet again. Currently (12:15), Pain Therapeutics is trading at $2.96 per share after a massive gain of 52.57% so far today.
What We Can Expect To See Moving Forward
Moving forward, I’m expecting to see great things from PTIE both in the short term and long term outlooks. Here’s how I see it…
Short Term – In the short term, I’m expecting to see more great gains. The reality is that this stock pretty much laid dormant for the past six months as investors had no idea where to expect this thing to go. However, we now have clear expectations, milestones to look for, and a clear understanding of what the company is most likely going to do moving forward. As a result, we can expect to see more investor excitement that drives the stock higher.
Long Term – In the long run, I think PTIE is going to do great as well. The reality is that if approved REMOXY has a very wide audience and solves a very real problem. With the data release, it seems as though Pain Therapeutics is well on their way to approval. So, I’m expecting the approval to turn into long run gains.
What Do You Think?
Where do you think Pain Therapeutics is headed and why? Let us know in the comments below!