Zacks Investment Research downgraded shares of PAIN THERAPEUT (PTIE) from OUTPERFORM to NEUTRAL on December 24, 2013, with a target price of $5.10.
Pain Therapeutics is developing a new generation of opioid painkillers. Opioids are drugs derived from the poppy plant. The company uses technology to reformulate opioid drugs, such as morphine, into new painkillers with improved clinical benefits. The company has four opioid painkillers in Phase II clinical trials. The company believes its drugs offer enhanced pain relief, fewer adverse side effects and reduced tolerance and addiction compared to existing opioid painkillers.
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