updated 3/30/2011 8:46:53 AM ET 2011-03-30T12:46:53

SAN MATEO, Calif., March 30, 2011 (GLOBE NEWSWIRE) -- Pain Therapeutics, Inc. (Nasdaq:PTIE) today announced that Peter S. Roddy, Vice President and Chief Financial Officer, will present at the 10th Annual Needham Health Care Conference in New York City on Wednesday, April 6th at 4:00 p.m. Eastern Time.  

A live audio webcast of the presentation will be available on the company's website homepage at www.paintrials.com . A replay of the audio webcast will continue to be available on the website for one month.

About Pain Therapeutics, Inc.

Pain Therapeutics, Inc. is a biopharmaceutical company that develops novel drugs. We conceived, developed, trademarked and partnered REMOXY®, a unique abuse-resistant formulation of oxycodone. A New Drug Application for REMOXY is on file with the FDA, with a PDUFA date of June 23, 2011. Pfizer, Inc. is our commercial partner for REMOXY and three other pain medications (abuse-resistant formulations of hydromorphone, hydrocodone and oxymorphone). In addition, we are developing a novel radio-labeled monoclonal antibody to treat metastatic melanoma, a deadly form of skin cancer. We are also working on a new treatment for patients with hemophilia, a genetic disorder in which patients are unable to stop bleeding. For more information, please visit www.paintrials.com .

CONTACT: Judy Ishida
         Administrative Manager
         Pain Therapeutics, Inc.
         IR@paintrials.com
         650-645-1924

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