NEW YORK, NY / ACCESSWIRE / January 10, 2018 / Diffusion Pharmaceuticals and Pain Therapeutics were two biotech stocks scorching on Tuesday. Shares of Pain Therapeutics even hit a new high after announcing positive results of REMOXY ER in a human abuse potential study. Shares of Diffusion headed higher after the company's CEO presented at the 10th Annual Biotech Showcase.
RDI Initiates Coverage on:
Diffusion Pharmaceuticals Inc.
Pain Therapeutics, Inc.
Diffusion Pharmaceuticals Inc. shares skyrocketed yesterday, closing the day up 42.95% on high volume compared to usual. The thinly traded stock started moving north after the company's CEO David Kalergis announced a corporate overview at the 10th Annual Biotech Showcase earlier in the week. The presentation is not available yet on the company's website, but a major event is the beginning of a Phase 3 clinical trial of its orphan drug trans sodium crocetinate (TSC) in newly diagnosed patients that have inoperable glioblastoma multiforme, a common and aggressive form of brain tumor. TSC targets the cancer's hypoxic micro-environment, re-oxygenating treatment-resistant tissue and making the cancer cells more vulnerable to the therapeutic effects of SOC treatments without the apparent addition of any serious side effects.
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Pain Therapeutics, Inc. shares were on fire in Tuesday trading, closing the day up nearly 103%. The stock hit a new high of $12.80 during intra-day trading after the company revealed positive results from a human abuse potential study of REMOXY ER, a unique, long-acting formulation of oxycodone. According to the study, all subjects had reported reduced 'Drug Liking' 'Take Drug Again' and 'Drug High' for REMOXY compared to oxycodone IR. The nasal administration of the drug also saw a lower exposure to oxycodone. The company is planning to resubmit REMOXY NDA to the Food & Drug Administration soon. REMOXY is intended to become an abuse-deterrent for opioid. CEO Remi Barbier commented, "We believe these data indicate REMOXY may have limited nasal abuse potential relative to comparator drugs. We have now successfully completed all studies necessary to resubmit the REMOXY NDA to the FDA, and plan to do so shortly."
Access RDI's Pain Therapeutics, Inc. Research Report at:
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