Contineum Therapeutics Inc. (NASDAQ:CTNM) shares are up on Friday as the company reported positive topline data from its exploratory Phase 1b trial of PIPE-791, a potential treatment for chronic pain.

The data released on Thursday focuses on patients for the non-opioid treatment of chronic osteoarthritis pain or chronic low back pain.

CTNM PIPE-791 Phase 1b Trial Data

The trial achieved its primary endpoint, demonstrating favorable safety and tolerability, with encouraging trends observed across multiple exploratory efficacy endpoints, including improvements in pain measures. The results support further evaluation of PIPE-791 for chronic pain treatment, reinforcing confidence in its potential.

Contineum Therapeutics is a clinical-stage biopharmaceutical company engaged in the development of oral small-molecule therapies for neurological, inflammatory, and immunological conditions.

Cash, cash equivalents, and marketable securities were $262.9 million as of December 31, 2025. Contineum believes its cash resources are sufficient to fund its planned operations through mid-2029.

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CTNM Technical Outlook: Key Levels And Momentum

Contineum Therapeutics is trading near the upper end of its 52-week range, which suggests a strong position relative to its historical performance.

The stock is currently trading 0.5% above its 20-day simple moving average (SMA), indicating short-term bullish momentum, but is 3.9% below its 50-day SMA, suggesting some intermediate-term weakness.

The relative strength index (RSI) is at 47.77, indicating a neutral momentum, which means the stock is neither overbought nor oversold. This positioning suggests that there is potential for movement in either direction, depending on upcoming catalysts or market conditions.

  • Key Resistance: $13.50 — This level has historically been a barrier for upward movement.
  • Key Support: $11.50 — This level has previously provided a floor for the stock’s price.

CTNM Price Action: Contineum Therapeutics shares were up 2.26% at $13.11 at the time of publication Friday, according to Benzinga Pro data. Over the past month, CTNM has gained about 0.1% versus a 10.8% rise in the S&P 500 and is up roughly 15% year-to-date compared to the index’s 5.6% gain.

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