Markets started off in a slight downtrend today but recovered near the time of this writing to modest gains. The market still seems to be pausing to take stock of value opportunities after last week’s bull run.
As investors search for value upside, Chinese and other emerging market stocks have put up especially strong performances over the last several weeks, even as blockchain remains red hot. Today, we get a Top Performer emerging from the only sector consistently managing to match blockchain punch for punch in 2017: pharmaceutical development.
This morning, PTIE announced positive frontline results from its new late-stage drug development effort, REMOXY.
Delivered nasally, REMOXY is designed to offer relief to patients addicted to opiates. The active compound in REMOXY is time-released and considered less addicting than the “immediate release” oxycodone.
Opiate drug addiction continues to drive a high profile public health crisis in the United States, so any potentially efficacious treatment has real value. All study subjects tested with REMOXY reported lower rates of a “drug like high” from REMOXY and fewer expressed interest in trying the drug again. Furthermore, these patients were exposed to a lower absolute quantity of opiates than under alternative treatment approaches.
Investors were eager to get in on this potential treatment, piling into the stock after the announcement. The buying frenzy drove the stock to gains over 150% at the time of this writing.
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