Pain Therapeutics, Inc. (NASDAQ:PTIE) saw the value of its micro cap stock rise during trading on Friday, as the company benefited from an announcement that it presented at the Jefferies Healthcare Conference.
According to a release, the company announced that management for Pain Therapeutics presented at the Jefferies 2012 Global Healthcare Conference in New York City, as industry leaders gathered to hear top execs speak about advances in the sector.
The company's stock also benefited from the exclusivity and market share that many therapeutics companies have, as Small Cap Network reported that Pain Therapeutics may be set to rise in the near future.
Pain Therapeutics' lead drug candidate is called REMOXY, and the firm is awaiting FDA approval for what it thinks can be a revolutionary medication.
"We believe these four issued patents can provide additional intellectual property protection for REMOXY until 2025 or beyond," said Remi Barbier, President and CEO of Pain Therapeutics.
Shares of Pain Therapeutics' stock rose $0.26 to $4.37, an increase of 6.3 percent at 12:56 p.m. on June 8.