SAN MATEO, Calif., July 30, 2008 (PRIME NEWSWIRE) -- Pain Therapeutics, Inc. (Nasdaq:PTIE) today reported financial results for the three and six months ended June 30, 2008. Net loss for the quarter ended June 30, 2008 was $1.0 million, or $0.02 per diluted share, compared to net income of $3.4 million, or $0.07 per diluted share, in the second quarter of 2007. Net income for the six months ended June 30, 2008 was $1.5 million, or $0.04 per diluted share, compared to $16.0 million, or $0.35 per diluted share, for the same period in 2007. Cash, cash equivalents and marketable securities were $177.1 million at June 30, 2008.
