Pain Therapeutics reports success in Phase III Remoxy trial

Shares of Pain Therapeutics got a boost in premarket trading after the South San Francisco biotech announced that a Phase III trial of its Remoxy painkiller succeeded in significantly reducing arthritis pain. Pain Therapeutics has been developing Remoxy as an alternative to Oxycontin, formulating the drug as a sticky substance that would be difficult to snort or inject, as many Oxycontin users have done for a quick high. Pain Therapeutics plans another Phase III Remoxy trial before it files an NDA with the FDA.

- read this AP story for more