Pain Therapeutics, Inc. (PTIE) Friday said it has received a $5 million milestone payment from King Pharmaceuticals, Inc. (KG), its exclusive commercial partner for abuse-resistant prescription pain medications.
Payment was made in connection with the acceptance by the U.S. Food & Drug Administration of an investigational new drug application, or IND, for abuse-resistant oxymorphone. The IND application was submitted by Pain Therapeutics and accepted by FDA within 30 days of its submission.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.