-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001140888-09-000082.txt : 20090610
<SEC-HEADER>0001140888-09-000082.hdr.sgml : 20090610
<ACCEPTANCE-DATETIME>20090610180339
ACCESSION NUMBER:		0001140888-09-000082
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090608
FILED AS OF DATE:		20090610
DATE AS OF CHANGE:		20090610

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BLACK BEAR OFFSHORE MASTER FUND LP
		CENTRAL INDEX KEY:			0001275688
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29959
		FILM NUMBER:		09885593

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATE CTR WEST BAY RD
		STREET 2:		PO BOX 31106-SMB
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			00000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAIN THERAPEUTICS INC
		CENTRAL INDEX KEY:			0001069530
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				911911336
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2211 BRIDGEPOINTE PARKWAY
		STREET 2:		SUITE 500
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94404
		BUSINESS PHONE:		6506248200

	MAIL ADDRESS:	
		STREET 1:		2211 BRIDGEPOINTE PARKWAY
		STREET 2:		SUITE 500
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94404
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
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    <footnotes>
        <footnote id="F1">Black Bear Offshore Master Fund, L.P. (&quot;Filer&quot;) disclaims membership in a group with any other person within the meaning of Rule 13d-5(b)(i) and Rule 16a-1(a)(1) under the Securities Exchange Act of 1934, as amended.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Eric Sippel</signatureName>
        <signatureDate>2009-06-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
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-----END PRIVACY-ENHANCED MESSAGE-----
