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Today’s Research Reports on Stocks to Watch: Pain Therapeutics and Tesla

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / August 16, 2018 / Shares of Tesla dropped on Wednesday as traders learned that the company has been hit with a subpoena by the SEC regarding CEO Elon Musk's tweet about considering to take the company private and having funding secured. Shares of Pain Therapeutics were skyrocketing on news that the company has received an Alzheimer's grant.

RDI Initiates Coverage on:

Pain Therapeutics, Inc.
https://rdinvesting.com/news/?ticker=PTIE

Tesla, Inc.
https://rdinvesting.com/news/?ticker=TSLA

Pain Therapeutics, Inc. shares closed up nearly 77% yesterday on about 18.8 million shares traded. Average trading volume for the stock is just under 550,000 shares. It was a day of gains after the biopharma company announced that the National Institutes of Health (NIH) has awarded the Company a $3.2 million clinical research grant to support a Phase II study with its Alzheimer's drug candidate, PTI-125. The study is expected to commence in the fourth quarter. CEO Remi Barbier remarked, "We are once again grateful to the NIH for its support of our clinical program around PTI-125. There is a profound need to develop new drugs for patients with Alzheimer's. NIH has long been a champion of innovative new science that stands up to rigorous, peer-reviewed evaluation and that has potential to benefit human health in areas of unmet needs, such as Alzheimer's." Pain Therapeutics was awarded the grant following a "in-depth, peer-reviewed evaluation of PTI-125 for scientific and technical merit."

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Access RDI’s Pain Therapeutics, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PTIE

Tesla, Inc. shares closed down 2.57% on nearly 9 million shares traded yesterday. The electric vehicle maker was hit with a subpoena from the Securities Exchange Commission after CEO Elon Musk's tweet about taking the company private earlier this month. Fox Business Network's Charles Gasparino tweeted, "SCOOP: SEC ramps up investigation into Tesla privatization plans; sends subpoenas to Tesla regarding privatization plans and Musk's statements involving "funding secured"--sources Subpoenas signal investigation has reached the "formal" stages -- sources more now @FoxBusiness." Musk's tweet may have violated an SEC rule that stipulates that public statements made by a company executive must be true. "I can't imagine that the enforcement division hasn't opened a file, that they are not calling his counsel or him and saying 'we would like whatever papers you have about this, if you have written anything down, if you have talked to lenders, if you have materials about that we would like to see them,'" remarked Tom Gorman, a former senior enforcement attorney with the SEC and a partner at Dorsey & Whitney in Washington, D.C. "'And right after we have finished seeing all that stuff, we would like to talk to you.'"

Access RDI's Tesla, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TSLA

Our Actionable Research on Pain Therapeutics, Inc. (NASDAQ: PTIE) and Tesla, Inc. (NASDAQ: TSLA) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com