Stonepine Capital Management Lowers stake in Pain Therapeutics (PTIE)

Pain Therapeutics (PTIE) : Stonepine Capital Management reduced its stake in Pain Therapeutics by 1.25% during the most recent quarter end. The investment management company now holds a total of 3,530,401 shares of Pain Therapeutics which is valued at $8.4 Million after selling 44,599 shares in Pain Therapeutics , the firm said in a disclosure report filed with the SEC on May 11, 2016.Pain Therapeutics makes up approximately 10.55% of Stonepine Capital Management’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in PTIE by selling 7,284 shares or 6.91% in the most recent quarter. The Hedge Fund company now holds 98,177 shares of PTIE which is valued at $234,643.

Pain Therapeutics opened for trading at $2.38 and hit $2.46 on the upside on Monday, eventually ending the session at $2.43, with a gain of 1.67% or 0.04 points. The heightened volatility saw the trading volume jump to 40,391 shares. Company has a market cap of $112 M.

Pain Therapeutics Inc. is a biopharmaceutical company that develops drugs. The Company’s lead drug candidate REMOXY is an extended-release oral formulation of oxycodone for the management of moderate-to-severe pain when a continuous around-the-clock opioid analgesic is needed for an extended period of time. REMOXY is a controlled-release oral capsule form of oxycodone in a viscous liquid formulation matrix that includes excipients. REMOXY’s capsule dosage form provides therapeutic drug levels of oxycodone on a twice-daily dosing schedule while resisting the increases in plasma levels of oxycodone associated with certain common methods of abuse and misuse. The Company’s drug candidate FENROCK is an abuse-deterrent transdermal pain patch in the pre-Investigational New Drug-stage of development.

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