PolyMedix Hid Drug's Flaws Before $20M Stock Deal, Suit Says

Law360, New York (July 2, 2012, 5:21 PM EDT) -- PolyMedix Inc. was slapped with a lawsuit in Pennsylvania federal court Monday by a putative class of investors who say the experimental drug company misled the public about a flawed anti-stroke treatment in order to generate buzz for a $20 million stock offering.

The company and its top brass misled investors about clinical trials of PMX-60056, a compound intended to induce blood clotting in order to reduce the risk of stroke, according to the suit. In numerous public statements, PolyMedix executives downplayed clinical trial results linking...
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