Healthcare Economy

Pain Therapeutics Jumps Almost 8% on Higher Volume

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.

Pain Therapeutics engages in the research and development of drugs for use in pain management, primarily in the area of opioid painkillers in the United States.

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.

Pain Therapeutics is a BioHealth Investor Stock Pick, and has made VSI’s Watch List.

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