SAN MATEO, Calif., Oct. 29, 2008 (GLOBE NEWSWIRE) -- Pain Therapeutics, Inc. (Nasdaq:PTIE) today reported financial results for the three and nine months ended September 30, 2008. Net income for the quarter ended September 30, 2008 was $15.2 million, or $0.35 per diluted share, compared to $3.2 million, or $0.07 per diluted share, in the third quarter of 2007. Net income for the nine months ended September 30, 2008 was $16.7 million, or $0.38 per diluted share, compared to $19.2 million, or $0.42 per diluted share, for the same period in 2007. Pain Therapeutics ended the third quarter with $193.2 million in cash, no debt and 41.9 million shares outstanding.
