BOSTON (Shah, analyst LSE and Stock Mania) - Pain Therapeutics Inc. and King Pharmaceuticals Inc. Thursday said final data from their Phase III study of Remoxy, an investigational drug to treat chronic pain, showed the drug was effective in providing around-the-clock analgesia within a patented formulation designed to resist common methods of misuse and abuse.
The companies said the Phase III clinical study is the first to show analgesic efficacy of any twice-daily oxycodone formulation over 12 weeks in a large, well-controlled clinical study.
Shares of Pain Therapeutics (nasdaq: PTIE - news - people ) closed Monday at $9.86, while shares of King Pharmaceuticals (nyse: KG - news - people ) closed at $11.51.
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