NEW YORK, July 14, 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, PMX-60056.
To join the PolyMedix class action, visit the firm's website at http://rosenlegal.com, or call Laurence Rosen, Esq., toll-free, at 866-767-3653; you may also email lrosen@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 Laurence Rosen, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com. If you wish to serve as lead plaintiff, you must move the Court no later than August 31, 2012.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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CONTACT: Laurence Rosen, Esq,
Phillip Kim, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Weekends Tel: (917) 562-8616
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
pkim@rosenlegal.com
jhorne@rosenlegal.com
www.rosenlegal.com
