Pain Therapeutics (NASDAQ:PTIE) declared a special dividend on Tuesday, December 11th. Shareholders of record on Monday, December 17th will be given a dividend of $0.75 per share on Monday, December 24th. The ex-dividend date of this dividend is Thursday, December 13th.

On a related note, analysts at C.K. Cooper downgraded shares of Pain Therapeutics from a “buy” rating to a “hold” rating in a research note to investors on Thursday, November 1st.

Shares of Pain Therapeutics (PTIE) traded up 2.88% during mid-day trading on Tuesday, hitting $3.21. Pain Therapeutics (PTIE) has a one year low of $2.69 and a one year high of $5.86. The company’s market cap is $144.6 million.

Pain Therapeutics, Inc. is a biopharmaceutical company that develops drugs. As of December 31, 2009, the Company had four drug candidates in clinical programs, including REMOXY, PTI-202, PTI-721 and a radio-labeled monoclonal antibody to treat metastatic melanoma.

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