PTIE
+++He's lucky to still have the job+++
He owns about 20% of the shares. Luck may not have a lot to do with it.
The stock did not dive to the degree I was expecting. Needham had this to say:
08:33 PTIE Pain Therapeutics reiterated Buy at Needham (7.32 ) -Update-
As the firm had anticipated, on Friday, December 9th, Pain Therapeutics announced the lack of statistical significance in the primary endpoint of the Phase 3 trial of PTI-901 in Irritable Bowel Syndrome. Based on the progression of the product candidate to Phase 3 testing following an open label trial, the firm did not include PTI-901 in our estimates and hence, the firm does not anticipate the news to significantly move the stock today. The firm reiterates its Buy rating and 12 month target price of $10. To arrive at their target price, the firm applied a P/E ratio of 27x to its 2009 EPS estimate and discounted back at 30% annually.
So they are expecting a pretty healthy market penetration.
Regards,
Bob
Market Data 
Markets 
