PainReform is a pharmaceutical company that specializes in the development of pain relievers that last long after surgery. It is currently working on PRF-110, a topical pain relief treatment for those who have undergone bunionectomy and hernia repair. On November 19, each stock was bought and sold at $ 2.31, which is 23% higher than the lowest worth for that period. The 5-day chart informs about a 7% price drop. In the middle of last week, it dropped from $ 2.49 to $ 1.87. In premarket trading, the price surged 17% to $ 2.68 with a market cap of $24.004M.
The business update talks about Phase 3 of its main product, PRF-110. It has been agreed with Pharmaceutics International (PI) that PI will manufacture this product. In addition, it was known about plans for 2022 – from July to begin clinical trials for the treatment of bunionectomy. In terms of financial results, R&D spending from January to September soared 139% year-over-year to $ 2.3 million. The reason for this huge growth was the increase in activity at CMC and the beginning of the study. At the end of the third quarter, they had $ 18.4 million in cash.