NEW YORK, Aug. 18, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the important August 31, 2012 lead plaintiff deadline in the class action against PolyMedix, Inc. (OTCBB:PYMX) alleging that PolyMedix misrepresented the safety of its experimental compounds in clinical trials.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
To join the PolyMedix class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
The complaint alleges that PolyMedix issued a series of materially false statements to investors about PMX-60056's commercial viability, safety, and market potential. Specifically, that PolyMedix failed to disclose that: (a) the clinical patients experienced hypotension more often and at lower doses than disclosed; (b) varying the dose did not eliminate adverse side effects on blood pressure; and (c) as a result, the commercial prospects for these compounds were doubtful.
On May 10, 2012, PolyMedix announced it was halting patient enrollment in clinical trials for PMX-60056 because clinical trial participants had experienced reductions in blood pressure. This adverse news caused a substantial decline in PolyMedix's share price.
If you wish to serve as lead plaintiff, you must move the Court no later than August 31, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To join the class action, please visit the website at http://rosenlegal.com. You may also contact Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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