"Pain Therapeutics, Inc. a biopharmaceutical company, today announced the closing of its previously announced registered direct offering of 8,860,778 shares of its common stock, which was priced at-the-market at a purchase price of $1.15 per share, for gross proceeds of approximately $10.19 million."
Wenn zu 6,8 Mio Aktien noch 8,9 Mio. neue Aktien hinzukommen kann man schon von einer enormen Verwässerung reden.
"Pain Therapeutics, Inc. , a biopharmaceutical company, today announced that it will host a live conference call to provide a strategic update regarding its business, its science and its pipeline. The call is scheduled to be held Thursday, October 4th at 10 AM Eastern time, 9 AM Central time."
Operating Highlights for 2018 and Forecast for 2019--
Historically, our lead drug candidate had been REMOXY, which is the trade name for an abuse-deterrent, extended-release form of oxycodone to treat severe chronic pain. The U.S. Food and Drug Administration (FDA) has previously found REMOXY to be an effective analgesic drug for the treatment of severe chronic pain. However, FDA has not approved REMOXY on the basis that additional demonstrations of its abuse deterrent properties are needed, a matter of dispute between us and FDA.
On March 20, 2019, we provided Durect Corporation with written notice of termination of a Development and License Agreement (DLA). Termination of the DLA effectively ends our clinical development of REMOXY.
In October 2018, we announced a strategic reorganization to align Company resources on advancing our programs in neurodegenerative diseases, such as Alzheimer?s disease.
--- In December 2018, we announced the initiation of a Phase II study to evaluate PTI-125 in patients with Alzheimer?s disease. This clinical study is supported by a research grant award from the National Institute on Aging of the NIH, the primary Federal agency supporting innovative new research in Alzheimer?s disease.
In 2019, we expect to rebrand the Company around neurodegeneration. Our rebranding plans include a new company name, logo, ticker symbol, website, as well as a comprehensive strategy to bolster media outreach and an active approach to engage with potential new shareholders.