72 HOUR DEADLINE: Levi & Korsinsky Notifies Investors with Losses on Their Investment in PolyMedix, Inc. of Class Action Lawsuit and the Deadline of August 31, 2012 to Seek a Lead Plaintiff Position
Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the Eastern District
of Pennsylvania on behalf of investors who purchased PolyMedix, Inc.
(OTC BB: PYMX) securities between March 7, 2011 and May 10, 2012.
The complaint alleges that beginning on March 7, 2011, the Company,
along with its Chief Executive Officer, Chief Financial Officer, and
Vice President of Cardiovascular Clinical Development, issued a series
of materially false and misleading statements to investors regarding the
viability, safety, and market potential of its experimental drug
PMX-60056. Specifically, it is alleged that defendants failed to
disclose to investors that: (a) the Company's experimental compounds
caused hypotension more often and at lower doses than acknowledged; (b)
varying doses of the compound would not eliminate its adverse side
effects on a patient’s blood pressure; and (c) as a result, the
development of the Company’s drug pipeline and the business prospects of
PolyMedix were at significant risk.
On May 10, 2012, PolyMedix issued a press release disclosing that the
Company was halting patient enrollment in clinical trials for the drug,
citing “observations of reductions in blood pressure.” Upon this news,
shares of PolyMedix common stock plummeted 29%, to close at $0.36 per
If you suffered a loss in PolyMedix you have until August 31, 2012to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn't require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at firstname.lastname@example.org
or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/polymedix-pymx.
Levi & Korsinsky is a national firm with offices in New York and
Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits. Attorney
advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph Levi, Esq., 212-363-7500 Toll
Free: 877-363-5972 Fax: 212-363-7171 www.zlk.com