Shares of PolyMedix (OTC:PYMX) jumped more than 13 percent on heavy volume today after announcing a new advisory board comprised of several well known industry professionals. In late trading, PolyMedix was trading up 8 cents at $0.95 per share on volume of more than 325,000 shares compared to its average daily volume of 137,000 shares. PolyMedix has a market cap of $77 million and a 52-week range between $0.72 and $1.50 per share.
PolyMedix expanded its advisory relationships through the organization of an Infectious Disease Clinical Advisory Board (CAB). PolyMedix will engage the CAB members to actively collaborate on the clinical development of its novel defensin-mimetic antibiotic, PMX-30063 and other antimicrobial compounds. Members of the CAB are distinguished scientists and clinicians that will provide guidance to PolyMedix in their respective areas of expertise.
“We are committed to broadening our antibiotic expertise and working with leaders in the infectious disease field,” commented Nicholas Landekic, President and CEO of PolyMedix. “We are honored that these influential thought leaders have agreed to join our Clinical Advisory Board. Their scientific and clinical knowledge will be instrumental in guiding the future clinical development of PMX-30063, as well as our other antimicrobial compounds.”
The Infectious Disease Clinical Advisory Board includes: Roger M. Echols, M.D.; Helen W. Boucher, M.D., F.A.C.P.; John Bradley, M.D.; G. Ralph Corey, M.D.; Stanley Deresinski, M.D., F.A.C.P.; Alasdair MacGowan, M.D., F.R.C.P.; and Brad Spellberg, M.D.
PolyMedix is a biotechnology company focused on the development of novel drugs for the treatment of serious infectious diseases and acute cardiovascular disorders. PolyMedix uses a rational drug design approach to create non-peptide small molecule drug candidates. PolyMedix’s lead antibiotic compound, PMX-30063, is currently in Phase 2 clinical trials. PolyMedix’s lead heptagonist compound, PMX-60056, has completed Phase 1 testing and is being developed to reverse the anticoagulant activity of both heparin and low molecular weight heparins (LMWH).
For more information, please visit our website at www.polymedix.com.
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