Pain Therapeutics (NASDAQ: PTIE) is trading higher on word the biopharmaceutical company has received from the National Institutes of Health (NIH) a $1.7 million research grant to study PTI-125, a drug candidate, in Alzheimer’s disease. With this grant, Pain Therapeutics can begin testing PTI-125 in human subjects. The company said it is on track to file an Investigational New Drug (IND) application in the third quarter of 2017. “We are once again grateful to the NIH for its support of our research program around PTI-125,” Pain Therapeutics chairman, president and CEO Remi Barbier stated in the news release. “NIH has long been a champion of innovative new science that stands up to rigorous, peer-reviewed evaluation and that has potential to benefit human health in areas of unmet needs, such as Alzheimer’s disease.”
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About Pain Therapeutics, Inc.
Pain Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops novel drugs. The FDA has not yet established the safety or efficacy of any of our drug candidates. For more information, please visit www.paintrials.com
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