Shares of Contineum Therapeutics (CTNM) ticked higher on Friday after the company released positive topline data from its exploratory Phase 1b trial of PIPE-791, a potential non-opioid treatment for chronic pain. The stock was up 2.26% at $13.11 at the time of publication.

The data, announced Thursday, focused on patients with chronic osteoarthritis pain or chronic low back pain. The trial achieved its primary endpoint, showing favorable safety and tolerability. On the efficacy side, the company reported encouraging trends across multiple exploratory endpoints, including improvements in pain measures. These results support further development of PIPE-791 and reinforce confidence in its potential as a non-opioid pain therapy.

Contineum Therapeutics is a clinical-stage biopharma company focused on oral small-molecule drugs for neurological, inflammatory, and immunological conditions. As of December 31, 2025, the company held $262.9 million in cash, cash equivalents, and marketable securities — enough to fund planned operations through mid-2029.

CTNM Technical Outlook: Key Levels and Momentum

From a technical perspective, Contineum is trading near the upper end of its 52-week range, suggesting a strong position relative to its historical performance. However, the short-term picture is a bit mixed.

The stock is currently 0.5% above its 20-day simple moving average (SMA), indicating short-term bullish momentum. But it's 3.9% below its 50-day SMA, pointing to some intermediate-term weakness. The relative strength index (RSI) sits at 47.77, a neutral reading that suggests the stock is neither overbought nor oversold — meaning it could move in either direction depending on upcoming catalysts.

Key levels to watch: resistance at $13.50, which has historically acted as a barrier to upward movement, and support at $11.50, which has provided a floor for the stock's price.

Over the past month, CTNM has gained about 0.1%, compared to a 10.8% rise in the S&P 500. Year-to-date, the stock is up roughly 15%, versus the index's 5.6% gain.