From Volume Spike Investor
Shares of Pain Therapeutics (PTIE) gained almost 8% on Friday as volume spiked more than 5 times the 3-month average daily volume.
There were no news releases or other significant events that could be detected, except for an announcement Wednesday, December the 13th by the company regarding the initiation of a phase III clinical trial.
The company is worth more than $400 million on the market, and holds more than $200 in cash with no debt as last reported by Yahoo!Finance.
Shares of Pain Therapeutics closed at $9.46, a little less than 20% away from its 52-week high of $11.80 reached back in February of 2006.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.