Stonepine Capital Management Lowers stake in Pain Therapeutics (PTIE)

Pain Therapeutics (PTIE) : Stonepine Capital Management reduced its stake in Pain Therapeutics by 19.62% during the most recent quarter end. The investment management company now holds a total of 2,837,878 shares of Pain Therapeutics which is valued at $7,208,210 after selling 692,523 shares in Pain Therapeutics , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Pain Therapeutics makes up approximately 7.70% of Stonepine Capital Management’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in PTIE by selling 500 shares or 62.5% in the most recent quarter. The Hedge Fund company now holds 300 shares of PTIE which is valued at $813. Financial Architects Inc added PTIE to its portfolio by purchasing 4,900 company shares during the most recent quarter which is valued at $13,279.Acadian Asset Management boosted its stake in PTIE in the latest quarter, The investment management firm added 2,471 additional shares and now holds a total of 351,072 shares of Pain Therapeutics which is valued at $832,041.

Pain Therapeutics closed down -0.05 points or -1.98% at $2.48 with 1,60,841 shares getting traded on Friday. Post opening the session at $2.53, the shares hit an intraday low of $2.36 and an intraday high of $2.5699 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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