Company Update (NASDAQ:PTX): Here’s Why Pernix Therapeutics Holdings Inc Shares Are Soaring 29% Today

Pernix Therapeutics Holdings Inc (NASDAQ:PTX) announced the appointment of Ken Piña as Senior Vice President, General Counsel and Chief Compliance Officer.  Mr. Piña will report directly to John Sedor, Chairman and Chief Executive Officer, and will serve as the Company’s senior in-house counsel, overseeing the legal and compliance area, and establishing legal and compliance strategies.

“Ken brings to Pernix extensive legal and life sciences experience with a notable record of achievement in developing and leading global legal and business initiatives for pharmaceutical companies,” said John Sedor, chairman and chief executive officer. “As our general counsel and chief compliance officer, Ken will be responsible for developing and managing our company’s legal and compliance strategies and related functional areas.  He will also fill a vital role as a key member of Pernix’s Executive Leadership Team. We are delighted to welcome Ken to our company.”

Most recently, Mr. Piña was a Founder and the Managing Principal of Core Risks Ltd. (CRL), which was acquired by Jardine Lloyd Thompson.  His practice focused on corporate compliance and ethics programming, enterprise risk and crisis-management program development and litigation support on behalf of a diverse client base.  Prior to joining CRL, Mr. Piña served Senior Vice President, Chief Legal Officer and Secretary for Henkel Corporation, a consumer products and specialty chemical company.  Before joining Henkel, he worked at Rhone-Poulenc Rorer Pharmaceuticals Inc., where he held positions of increasing responsibility, including Vice President, General Counsel and Secretary.

“Pernix has a talented team and an impressive product portfolio which represent a compelling opportunity for all of the Company’s stakeholders,” Mr. Piña said.  “I look forward to supporting Pernix’s continuing efforts to enhance its operations and bring important pain management and CNS products to patients and physicians.”

Mr. Piña received his Juris Doctorate from the Dickinson School of Law, Pennsylvania State University, earned his B.S. degree from the Rutgers University College of Pharmacy.  He has served as an adjunct professor of food and drug law at Temple University and as a lecturer in law at the Villanova School of Law.  He is also co-editor of the industry text, An Introduction to Food and Drug Law and Regulation (FDLI). (Original Source)

Shares of Pernix Therapeutics are currently trading at $2.93, up $0.65 or +28.65%. PTX has a 1-year high of $28.05 and a 1-year low of $1.83. The stock’s 50-day moving average is $2.81 and its 200-day moving average is $1.67.

Pernix Therapeutics Holdings, Inc. engages in the research, development, and manufacture of biopharmaceutical products. It focuses on therapeutics for diseases on central nervous system, neurology, pain, and psychiatry. Its products include treatment of migraine pain and inflammation, insomnia, and depressive disorder. The firm distributes its products under the following brands: Treximet, Silenor, Zohydro ER with BeadTek, and Khedezla. 

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