Discouraging News Kicks Polymedix, Inc. (OTC:PYMX) Down on the Charts

The shares of Polymedix, Inc. (OTC:PYMX) crashed down big time yesterday after the biotech developer of novel therapeutic drugs aimed at treating acute infectious diseases announced to have taken severe measures towards restricting its business operations.

Wrapping up trade at $0.125 per share, PYMX took a 26% nosedive on the chart as investors shifted more tan 1 million shares in a series of efforts to get rid of the stock. The root of all evil seems to be the company’s latest news release regarding the hiring of a financial advisor to deal with its capital deficiency. The latter has in turn forced managers to cut down on expenses in almost every business aspect. This will lead to a myriad of adverse effects on clinical trials and staff remunerations. As a consequence, PYMX will be unable to make its sole product candidate eligible for the FDA since the former requires additional clinical trials. This chain reaction will in turn bereave the company from any revenue opportunities for an indefinite period of time.

PYMX‘s dismal situation could morph into two possible scenarios. Either they will succeed in raising external capital, or they will sell the company altogether. If neither mission proves successful, the company will remain stuck in a dead end.

In the light of the facts mentioned above, it is no wonder that traders are increasingly trying to dispose of their shares getting away with a minimal loss. Of course, we shall keep a watchful eye on the stock should it happen to attract any investors with deep pockets who could make a difference.