Pain Therapeutics unveils one-time cash distribution

Pain Therapeutics Inc. (NASDAQ:PTIE) will pay a one-time cash distribution of $0.75 per share, or about $34 million, on or around Dec. 24 to shareholders of record as of Dec. 17. At Sept. 30, the company had $92.5 million in cash and a nine-month operating loss of $2.1 million. CEO Remi Barbier said he has about a 15% stake in the company. Pain Therapeutics was up $0.08 to $3.12 on Monday. ...