Pain Therapeutics to Release Positive Clinical Results And Hold Conference Call.

SOUTH SAN FRANCISCO, Calif., Oct. 2 /PRNewswire/ --

Pain Therapeutics, Inc. (Nasdaq: PTIE), a drug development company, today announced that it will release clinical results on PTI-555 during market hours on Thursday, October 4 and will hold a conference call on Friday, October 5 at 10:00 a.m. Pacific Time/1:00 p.m. Eastern Time. PTI-555 is the Company's investigational painkiller aimed at the $700 million U.S. market for morphine and similar narcotic painkillers.

The conference call will be webcast live on the Company's website at www.paintrials.com. To listen, please go to the Shareholders portion of the website at least five minutes in advance. A replay of the webcast will remain on the Company's site for 30 days.

To listen to the call without Internet access, participants should dial 303-262-2175. A replay of the conference call will be available through Friday, October 12, 2001 at 303-590-3000, code 400845.

About Pain Therapeutics, Inc.

Pain Therapeutics, Inc. is an emerging leader in the area of pain management. The Company is developing novel painkillers that address the deficiencies of oxycodone, morphine and other opioid painkillers that are widely used in clinical medicine. The Company is currently in Phase II clinical trials with multiple proprietary painkillers. Pain Therapeutics has headquarters in South San Francisco, California and is traded on NASDAQ under the symbol PTIE.

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