It’s coming down to the wire.
In July 2015, The Cheap Investor made a recommendation to buy Pain Therapeutics (PTIE) at just $1.83 a share. Last checked, the stock was up to $2.71 for a potential gain of 48%.
And we see no reason to exit.
As we near a September 25 PDUFA date for the company’s pain drug, Remoxy, we expect for the stock to be even higher than it is now. What’s interesting is the FDA just told the company an advisory panel committee is no longer needed here. While it’s a bit presumptive to suggest the FDA is ready to approve, the government agency seems impressed with the drug under development.
According to The Life Sciences Report, “Remoxy’s abuse-deterrent formulation is key to its potential approval. Remoxy’s thick, sticky, high-viscosity formulation may deter unapproved routes of drug administration, such as injection, snorting or smoking. Investors may know that oxycodone abuse and diversion remains a serious, persistent problem. Nearly 19,000 people died from opioid overdose in 2014, according to the National Institute on Drug Abuse.”