Pain Therapeutics, Durect soar on Remoxy hopes

|By:, SA News Editor

News that Pfizer (PFE -1.6%) is planning a Phase 1 trial of Remoxy sends shares of Pain Therapeutics (PTIE +29.3%) and Durect (DRRX +14.3%) sharply higher in midday trading.

Many began to question the drug's fate after PFE indicated in May that a response to the FDA's latest Reomxy CRL likely would not be submitted "before mid-2015."

See SA Contributor Red Acre Investments' latest article on Remoxy