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NEW YORK ( TheStreet) -- Pain Therapeutics (Nasdaq: PTIE) hit a new 52-week high Thursday as it is currently trading at $10.38, above its previous 52-week high of $10.37 with 220,760 shares traded as of 11:02 a.m. ET. Average volume has been 425,100 shares over the past 30 days. Pain has a market cap of $438 million and is part of the health care sector and drugs industry. Shares are up 48.1% year to date as of the close of trading on Wednesday. Pain Therapeutics, Inc., a biopharmaceutical company, engages in the research and development of novel drugs.