This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against PolyMedix, Inc.

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities that purchased the common stock of PolyMedix, Inc. (“PolyMedix” or the “Company”) (OTC BB: PYMX) between December 15, 2010 and April 4, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of PolyMedix during the Class Period, or purchased shares prior to the Class Period and still hold PolyMedix, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/polymedix-inc-pymx.

PolyMedix, a Delaware corporation headquartered in Radnor, Pennsylvania, is a clinical stage biotechnology company that develops small-molecule drugs for the treatment of serious acute care conditions. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the Defendants misled investors about the commercial viability, safety, and market potential for PMX-60056. PMX-60056 was a cardiovascular compound that was intended to reverse the activity of common blood clotting agents in order to avoid the risk of stroke. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on February 9, 2011, the Company initiated Phase 2 clinical trials for PMX-60056 even though Phase 1 clinical trial results suggested that this drug was linked to adverse blood pressure side effects, specifically hypertension. Despite Defendants’ knowledge or reckless disregard of PMX-60056’s adverse side effect, they made no mention as to the severity of this problem, and its effect on the continued development and marketability of this new drug compound.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs