Pain Therapeutics completes special, one-time nondividend cash distribution

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Dec 13 2010

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Pain Therapeutics, Inc. (Nasdaq:PTIE) announced today the completion of a special, one-time nondividend cash distribution of $2.00 per share, or an aggregate of about $86 million. In connection with this event, Nasdaq® will adjust the price of PTIE by $2.00 per share at today's open.

"This marks the completion of another milestone in our plan to deliver value to shareholders," said Remi Barbier, Chairman, President and CEO of Pain Therapeutics. "We look forward to an exciting year in 2011."

After completing the distribution, the Company's cash balance exceeds $90 million.

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Pain Therapeutics, Inc.

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Tags: Antibody, Genetic Disorder, Hemophilia, Melanoma, Monoclonal Antibody, Pain, Therapeutics

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