PolyMedix, Inc.(fka PYMXQ)

[starbuxsux]

My only interest was in the PO...

http://investorshub.advfn.com/Public-Offering-Hunters-26348/

[nupapa]

Yep. I just saw it on the OTC site. I actually don't own them. Just follow it for a friend who bought a long time ago for $25k at the IPO.

[starbuxsux]

Etrade still has the D

[starbuxsux]

Glad I sold before this

[nupapa]

Listed as PYMXE now -- "Delinquent"
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/20/2013&mkt_ctg=OTCBB

[starbuxsux]

Looks like it's begun trading...

[Renee]

PYMX one for 50 reverse split:

http://www.otcbb.com/asp/dailylist_detail.asp?d=03/18/2013&mkt_ctg=OTCBB

[billfishnow]

My bet is a licensing deal for a small application with little or no money upfront...That will be good press... while they move forward on the same course on the Brill getting it to market..Lots of folks are crushed on this stock and are riding to the end..me for one..

Still one of the best and most versatile products out there..Cannt they make a deal with Apple for a keyboard additive>>!!!

When u get hooked on gov funding..you are on thin ice....
Nice move up today..and no sellers left..whats up??

[gandalf2325]

Prospectus presentation
Link

Some new material in linked presentation. I think it's a good idea that they have gone ahead and highlighted the platform possibilities as future upside (diabetes, etc.). Also, well done on management's part by highlighting the near term catalysts. This investment at today's price is very much like a venture capital investment in terms of getting in on the ground floor, but unlike VC the story has near term significant catalysts. The market likes platform stories as long as the payoff is not too far in the future.

Assuming the financing goes off at 10 cents and a 50:1 ratio, the stock will start out post-financing at $5/share and have a $35MM market cap. I think it will take little time at all for the stock to triple from there. That would be a $100MM market cap and still be a compelling investment story going forward. The old market cap high of $150MM should be well within reach prior to Phase 2b results ($22.5/share post-split and 45 cents pre-split. That's a 350% return from current levels inside of a year...

The thing to do is to separate the past and look at the investment going forward. The science is impressive and it's a new CEO going forward.

I will likely be participating in the offering or at least buy additional shares in the open market as I like the story still and the valuation is as good as it gets for new money.

[ziploc_1]

An investment needs the right stock and the right timing- both to buy or to sell-It is not a lottery ticket-or a gold mine

[damnthetorpedoes]

Mullet, I'm not talking about Poly getting P2b ABSSSI trials going, or even Oral Mucositis trials started. I'm saying it would be difficult, if not impossible, for them to take on additional research into treatments for CRE or other infectious diseases until they either find a suitable partner or start getting a lot more funding.

I keep seeing posts here and on Yahoo! about this or that disease becoming near-epidemic or developing resistance to traditional antibiotics. Since they are posted on Poly's forums, the conclusion most would make is that those are conditions ripe for Poly's "magic". While I agree that Poly's pipeline could likely cure many infectious diseases, the company just won't have the ability to do anything about them barring massive new funding or the government declaring an emergency (and providing... you guessed it, massive new funding).

[mulletman99]

I disagree. You only have to look at the recent success of Aegis, the lone booking agent of the offering. Amazingly, the seem to specialize in microcap biotechs, some with horrible balance sheets. They will get this deal done, get enough for phase2b, and let the science do the rest.

[damnthetorpedoes]

I don't see PolyMedix being a factor in this for many years, if ever. They've had enough trouble just getting Brilacidin into P2b testing for ABSSSI and even after a RS and massive dilution will not likely have a hope to obtain funding to advance development of other drugs or even the same drug for different diseases anytime soon (if ever).

[gfp927z]

>>> 'Nightmare' bacteria spreading in U.S. hospitals, nursing homes: CDC



Half of those infected die from this antibiotic-resistant bacteria


March 5, 2013

By Steven Reinberg



http://healthyliving.msn.com/health-wellness/nightmare-bacteria-spreading-in-us-hospitals-nursing-homes-cdc-1



(HealthDay News) -- A "nightmare" bacteria that is resistant to powerful antibiotics and kills half of those it infects has surfaced in nearly 200 U.S. hospitals and nursing homes, federal health officials reported Tuesday.

The U.S. Centers for Disease Control and Prevention said 4 percent of U.S. hospitals and 18 percent of nursing homes had treated at least one patient with the bacteria, called Carbapenem-Resistant Enterobacteriaceae (CRE), within the first six months of 2012.

"CRE are nightmare bacteria. Our strongest antibiotics don't work and patients are left with potentially untreatable infections," CDC Director Dr. Thomas Frieden said in a news release. "Doctors, hospital leaders and public health [officials] must work together now to implement the CDC's 'detect and protect' strategy and stop these infections from spreading."

"The good news," Frieden added at an afternoon teleconference, "is we now have an opportunity to prevent its further spread." But, he continued, "We only have a limited window of opportunity to stop this infection from spreading to the community and spreading to more organisms."

CRE are in a family of more than 70 bacteria called enterobacteriaceae, including Klebsiella pneumoniae and E. coli, that normally live in the digestive system.

In recent years, some of these bacteria have become resistant to last-resort antibiotics known as carbapenems.

Although CRE bacteria are not yet found nationwide, they have increased fourfold within the United States in the past decade, with most cases reported in the Northeast.

Health officials said they're concerned about the rapid spread of the bacteria, which can endanger the lives of patients and healthy people. For example, in the last 10 years, the CDC tracked one CRE from one health-care facility to similar facilities in 42 states.

One type of CRE, a resistant form of Klebsiella pneumoniae, has increased sevenfold in the past decade, according to the CDC's March 5 Vital Signs report.

"To see bacteria that are resistant is worrisome, because this group of bacteria are very common," said Dr. Marc Siegel, clinical associate professor of medicine at NYU Langone Medical Center in New York City.

Most CRE infections to date have been in patients who had prolonged stays in hospitals, long-term facilities and nursing homes, the report said.

The bacteria kill up to half the patients whose bloodstream gets infected and are easily spread from patient to patient on the hands of health-care workers, the CDC said.

Moreover, CRE bacteria can transfer their antibiotic resistance to other bacteria of the same type.

This problem is the result of the overuse of antibiotics, Siegel said. "The more you use an antibiotic, the more resistance is going to emerge," he said. "This is an indictment of the overuse of this class of antibiotic."

What's needed are new antibiotics, Siegel said, adding that pharmaceutical companies lack the financial motivation to develop them right now. "Eventually, there will be enough resistance so drug companies will have a financial incentive. In the meantime, lives can be lost," he said.

Added Dr. Ghinwa Dumyati, associate professor of medicine at the University of Rochester in New York: "At this time, our best prevention is detection and infection control. The incidence [of CRE] is low and we are looking to prevent it before it gets much higher and we cannot control it."

To beat back the spread of these bacteria, the CDC wants hospitals and other health-care facilities to take the following steps:

• Enforce infection-control precautions.

• Group together patients with CRE.

• Segregate staff, rooms and equipment to patients with CRE.

• Tell facilities when patients with CRE are transferred.

• Use antibiotics carefully.

Additional funding of research and technology is critical to prevent and quickly identify CRE, the CDC said.

Countries where CRE is more common have had some success controlling it.

Israel, for example, worked to reduce CRE in its 27 hospitals, and CRE rates dropped by more than 70 percent. Some U.S. facilities and states have also seen similar reductions, the agency said.

"We have seen in outbreak after outbreak that when facilities and regions follow the CDC's prevention guidelines, CRE can be controlled and even stopped," Dr. Michael Bell, acting director of the CDC's Division of Healthcare Quality Promotion, said in the news release. "As trusted health-care providers, it is our responsibility to prevent further spread of these deadly bacteria."

Siegel said there are measures patients can take to reduce their risk of infection. "No. 1 on the list is [not to] wish that your hospital stay is extended. Patients think they are safer at the hospital, but that may not be true," he said. "And try to go into a clean hospital."

Patients should also make sure doctors and staff wear gloves and wash their hands when treating them, he said.

More information

For more information on CRE bacteria, visit the U.S. Centers for Disease Control and Prevention.

<<<

[gfp927z]

>>> Reports of rare superbug jump in US, CDC says


In the U.S. today, the most common type of highly drug-resistant germs known as CREs are the Klebsiella pneumonia bacteria like those shown here. Nearly untreatable, they're being detected in a growing number of health care settings.


By JoNel Aleccia

NBC News

Feb 27, 2013


http://vitals.nbcnews.com/_news/2013/02/27/17105852-reports-of-rare-superbug-jump-in-us-cdc-says?lite&ocid=msnhp&pos=3




A sharp jump in the number of rare but potentially deadly types of a superbug resistant to nearly all last-resort antibiotics has prompted government health officials to renew warnings for U.S. hospitals, nursing homes and other health care settings.

The move comes just as researchers in Israel are reporting that people who carry dangerous CRE -- Carbapenem-resistant enterobacteriaceae -- can take more than a year before they test negative for the bacteria, making it more difficult to control and raising the risk of wider spread.

Reports of unusual forms of CRE have nearly doubled in the U.S., the Centers for Disease Control and Prevention reported this month. Of 37 cases of rare forms of CRE, including the alarming NDM -- New Delhi metallo-beta-lactamase -- 15 have been reported since last July.

“This increase highlights the need for U.S. health care providers to act aggressively to prevent the emergence and spread of these unusual CRE organisms,” the CDC said in a health advisory.

CREs are part of a family of drug-resistant germs that have shown up in growing numbers of U.S. health care settings. They’re named for their ability to elude carbapenem antibiotics, the big guns in the medical arsenal. They usually strike people who are already ill and require devices such as ventilators or catheters or who have been taking antibiotics for a long time. But they can infect any patient.

Twenty-nine of the unusual CRE cases have been NDM, up from the first case detected in the U.S. in 2010, said the CDC's Dr. Alex Kallen, a medical epidemiologist and outbreak response coordinator in the agency’s Healthcare Quality Promotion division. It's especially worrying because it confers resistance to multiple drugs and is easily transmitted to other types of bacteria.

The others were even rarer types of CRE, including VIMs, IMPs and OXA-48s, all of which produce enzymes that render most antibiotics virtually useless.

The agency called for stricter isolation and hygiene precautions, increased screening of patients potentially colonized with CRE and better communication within and between hospitals and other health care settings where the bugs can become intractable -- and deadly. CRE infections have a mortality of up to 40 percent, much higher than other health care infections, such as those caused by MRSA or C. difficile.

“Our main objective is to slow or stop the spread in places where we can identify them,” said Kallen. “Right now, the therapeutic options are very limited.”

Health officials have been worried about them for more than a decade, particularly the KPCs, or carbapenemase-producing Klebsiella pneumonia, which have now been reported in 43 U.S. states, the CDC reports.

Nine states have reported NDMs and at least two have reported other rare forms that also block antibiotic effectiveness, including those known as VIMs, or Verona integron-encoded metallo-beta-lactamase, and IMPs. So far, they’ve been associated mostly with people who’ve been hospitalized in countries outside the U.S.

The bugs were in the news last summer after reports of a CRE strain of Klebsiella penumoniae roared through the National Institutes of Health Clinical Center near Washington, D.C., killing seven people, including a 16-year-old boy.

In Colorado last summer, NDM-producing CRE was detected in eight patients, the largest outbreak in the U.S. to date, according to a CDC report this month. It was found largely because the University of Colorado Hospital already has stringent surveillance protocols in place, said Dr. Michelle Barron, director of infection control and prevention. Since then, the hospital has probably tested 500 or 600 patients with unusual resistance patterns, she told NBC News.

None of the eight patients in the original outbreak died. The evidence showed that patients who were colonized with the germs, but not actually sick, contributed to the spread.

That’s a point underscored by the study by Israeli doctors published Wednesday in the American Journal of Infection Control. They studied medical records of adult patients hospitalized between January 2009 and December 2010 at Shaare Zedek Medical Center, a 700-bed, university-affiliated hospital in Jerusalem.

In 97 patients with positive CRE cultures, it took a mean time of 387 days to log a negative test -- and nearly 40 percent remained positive after a year, according to Dr. Amon Yinnon, one of the study authors.

“The major concern is that an undiagnosed carrier may be admitted to hospital for totally unrelated reasons, and subsequently and unwittingly pass his CRE to other patients,” Yinnon said in an email to NBC News.

Patients who were hospitalized repeatedly were at higher risk of remaining colonized with CRE, the study found.

CDC officials hope to increase awareness of the growing problem among the general public as well as the health care providers before it gets out of control.

“I can’t predict the future, of course, but there is a concern that we can see more of these as they spread,” Kallen said. “This can become a community bug.”

<<<

[longpymx]

They (i.e., proxies) showed up in my email today.

[mulletman99]

Thanks. I will call them and see if I can get someone on the phone that can give me the answer.

Assuming isnt good enough.

[edinvestor1]

In each year's release it says "The number of shares of Common Stock of POLYMEDIX INC owned by the investment companies at December 31, 2012 included xxxxxxxxx shares of Common Stock resulting from the ASSUMED conversion of xxxxxxxxx shares of POLYMEDIX INC WT 4/10/16. From my excerpted data above: 2/13/12, 7,841,901 shares - 1,562,501 ASSUMED convertible from warrants = 6,279,400 actual shares. 2/13/13, 9,257,500 shares - 3,125,000 ASSUMED from warrants = 6,132,500 actual shares owned. They included POSSIBLE converted warrants in the totals even though they weren't actual shares ASSUMING they will be converted. That is a BIG ASSUMPTION.

[mulletman99]

Ed......this then implies that Fidelity converted warrants to stock at this price....interesting, no?

Granted I would rather them buy 2.4 million straight up, but for them to convert warrants to stock right now and at this price, they must think Poly will be around for a while.

And again....you KNOW Fidelity is talking with Smith (IMO).

[edinvestor1]

I found it and the one last year. Exerpts from the two and a little math appears to actually have sold 150,000 approx. The increase consisting of new warrants.
2/13/13 "Devonshire Street, Boston, Massachusetts 02109, a wholly- owned subsidiary of FMR LLC and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, is the beneficial owner of 9,257,500 shares or 8.422% of the Common Stock outstanding of POLYMEDIX INC ("the Company") as a result of acting as investment adviser to various investment companies registered under Section 8 of the Investment Company Act of 1940. The number of shares of Common Stock of POLYMEDIX INC owned by the investment companies at December 31, 2012 included 3,125,000 shares of Common Stock resulting from the assumed conversion of 3,125,000 shares of POLYMEDIX INC WT 4/10/16 (1 shares of Common Stock for each Warrant)."

2/13/12 ''Devonshire Street, Boston, Massachusetts 02109, a wholly- owned subsidiary of FMR LLC and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, is the beneficial owner of 7,841,901 shares or 7.291% of the Common Stock outstanding of POLYMEDIX INC ("the Company") as a result of acting as investment adviser to various investment companies registered under Section 8 of the Investment Company Act of 1940. The number of shares of Common Stock of POLYMEDIX INC owned by the investment companies at December 31, 2011 included 1,562,501 shares of Common Stock resulting from the assumed conversion of 3,125,000 shares of POLYMEDIX INC WT 4/10/16 (0.5 shares of Common Stock for each Warrant)."

[edinvestor1]

What is the link to that? The only one I see is FMR LLC · SC 13G · Polymedix/Inc · On 2/14/12 which says: "'Various persons have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the
sale of, the Common Stock of POLYMEDIX INC. The
interest of one person, Fidelity Select Biotechnology Portfolio,
an investment company registered under the Investment
Company Act of 1940, in the Common Stock of
POLYMEDIX INC, amounted to 7,402,918 shares or 6.882%
of the total outstanding Common Stock at December 31, 2011."

[mulletman99]

Fidelity added 2.4 million shares.

See amended 13g/a filed February 13th.

This should add confidence to any current shareholder, as Im sure Fidelity, the largest single holder (minus the shareholder group) has been in contact with Ed Smith since Ed taking over as CEO.

[edinvestor1]

Mine are also held by my broker so I don't know when I will get the notice.

[beachlover]

Great. Thanks for posting.

[damnthetorpedoes]

After digging around, I did find it on PolyMedix's website under SEC Filings in the Investors tab. http://www.investors.polymedix.com/sec.cfm

[beachlover]

I have not seen it either.

[longpymx]

Haven't seen a proxy statement myself; my shares are at E*Trade and Fidelity.

[damnthetorpedoes]

Hey, I'm still waiting for the proxy statement so I can read it (and vote) for myself. It seems everyone but me has received notification.

[edinvestor1]

My thoughts are cautiously glad to see they are still trying instead of just going the bankruptcy route where the shareholders lose everything. I am still not sure why no hostile offers have been made. It makes me wonder about the odds that this really is a viable product probability.

[gandalf2325]

I've been on board with this plan for 9 months now. Only wish they would have done it sooner.

The only real remaining question is the pricing on the financing and amount of dilution. Are current shareholders going to retain 50%, 40% or 30%? $25MM @ 0.15 share would equal 60% of new outstanding shares leaving 40% to current shareholders.

Just my gut feeling, but I think things will be looking much better for the share price in the coming months.

[WiseTrader55]

Shareholder Meeting on March 15th and Proxy Statement.

I am curious as to everyone's reaction.

Gandalf? Edinvestor1? Damnthetorpedoes? Ziploc? Beachlover? Gfp927?

[mulletman99]

I think there might have been either a miscommunication or the structure of the group has changed since you decided not to join.

Noone in the group has been asked to sign over your shares.

If you are at all interested in more detailed information on the structure of the group and our current goals, email me at [e-mail].

If not, I understand and best of luck to you.

[gandalf2325]

I don't normally sign over my shares unless I fully agree with the person that is going to speak for me. I have had philosophical differences with one of your group leaders. For example, the company absolutely should have done a reverse split and financing 6 months ago. It's obvious now, but your group was stupidly fighting that at the time.

Pretty much as simple as that. Too much I disagreed with...

[mulletman99]

Gandolf, curious why you haven't joined the shareholder group?

[gandalf2325]

That's right, the insiders are not able (even if they wanted) to buy right now with all the material, nonpublic information they have on the ongoing financial negotiations. However, it would be nice to see the management/board step up and put some skin in the game when the deal does happen.

Unfortunately, PYMX is out of time (and good options anyway) to try a more non-standard equity offering. Presumably, they have researched those options prior to this point and found them lacking. One of the problems has always been the lack of large investors and liquidity. Raising $18 million from small retail each year was never going to work. If PYMX is to continue as a going concern, Edward Smith (or a new guy) is going to have to be capable of attracting the larger investors necessary to get the company to the point where it can partner the products.

[edinvestor1]

I emailed them and told them about my experience with Tengasco where the company issued free warrants to the present stockholders for immediate conversion to stock at a price or lose the warrants. They were very successful in staying afloat when the ship was about to sink. HOWEVER, I am still concerned that management is still not buying shares if something good is going to happen. Are they prohibited from this, if something is in the works, by some SEC rule?

[gandalf2325]

Letter from the CEO is on the PYMX website as the PR explains...

One of the potential scenarios that is coming within the month is a recapitalization (secondary offering). This would include a reverse stock split and the influx of at least $18.5 million in cash through the issuance of new shares. It's likely the new owners would own somewhere around 50% or more. So for simplicity sake let's just ballpark that the stock shows enough life and the new shares are issued at 19 cents and 100 million shares are issued to raise the $18.5 million. That gives current owners 50% of the "new" company and the new investors 50%.

Now the company has 200 million shares O/S versus the current 100 million. (ignore the RS in this thought exercise as it is immaterial to this calculation).

What is a company worth with enough cash to run two Phase 2 trials - each addressing a significant need with all the unique positives that all remaining investors here already know all about? Anybody could find lot's of examples of at least $100 million for companies with less potential - and it's not too hard to argue for a $200 million market cap. Obviously it wouldn't happen overnight as the new management would need to deliver on the plan and build confidence with the investment community, but say in 12 months right before the new trial results are released?

$100 million market cap would be 50 cents a share - back to a buck at $200 million mkt cap. The first target is not an unreasonable one at all. I still think a re-cap is the most likely course forward and I think it could make sense with the right man running the show (no comment on whether Smith is the man, although the letter today was a step in the right direction.)

Obviously a partnership would only further help the cause.

Could be interesting times ahead. Although could be worth nothing still...

[mulletman99]

Aegis Capital released a 2-3 page write-up on PYMX today.


They wrote an analyst report for Cubist. In ocvering their competition, they wrote an extremely long, extremely detailed description of the science and clinical trial data of 30063. Unusual to go into this much description of a competitor in an analyst report....in my opinion.

Here is the detail on the yoohoo message board.

http://finance.yahoo.com/mbview/threadview/?&bn=bcbe7017-fc7a-39e9-bde8-1f49e57e2e49&tid=1360173972416-d9f7f7b2-1d50-49eb-9825-cf0528d69461&tls=la%2Cd%2C0

[RACKnRICKY]

bounced from 07-11

[RACKnRICKY]

down another 18% hmmm..............

[RACKnRICKY]

another 100% plus day coming here?

[damnthetorpedoes]

I doubt any other company would hire him as CEO. Personally, I believe he totally lost touch with reality - refusing to talk to investors, etc. Then Lisa, his buffer to the outside world, was let go. Then the salary cut. Likely, the BOD also demanded he negotiate even domestic rights on his precious Brilacidin.

With his entire world crumbling around him and his dreams of running "the next Amgen" quickly fading, Nic likely experienced some kind of breakdown.

[gfp927z]

>>> On January 26, 2013, the compensation committee of the company's board of directors modified the terms of Mr. Landekic's employment arrangement by reducing his base salary to the rate of $250,000 per year, the minimum amount contemplated under his employment agreement dated July 30, 2002. <<<


http://biz.yahoo.com/e/130130/pymx8-k.html


Maybe Nic can go work for Amgen. I hear they have openings in the janitorial department.

[edinvestor1]

If it is to continue, why appoint an interim president instead of the one you want? 9/30/2012 Total stockholders' equity (4,374) What do you think it is now? And some of you see Nic's leaving at this point positive? A year ago after the shareholders defeated all the proposals, yes. Oh...... thats right. You guys voted for everything management wanted. I voted NO on everything. It is a bit too late to see this as positive now. The interim President has just been appointed just as Admiral Karl Dönitz was appointed to replace Hitler at the end and it is going to have the same result...........NOTHING, HE IS THE DESIGNATED LAST MAN OUT TO TURN OFF THE LIGHTS. I am glad I sold down to a stub.

[ziploc_1]

At this point, no one is putting cash into this company without having control of it. Its going to be a buy out at pennies on the dollar or bankruptcy. I'll take the pennies. We have very little leverage now. (Nik demurred and that's why he's gone. The warrant holders are going to have to agree to this as is the U. of Penn. THIS WAS NOT A WELL MANAGED COMPANY, BUT THAT DOESN'T MEAN THAT IT CAN'T STILL BE GREAT.

[WiseTrader55]

My best guess is that they have found new investors and this was one of the prerequisites to the deal. Nic has been the main problem from the beginning.

Many wonder why anyone would step in now. Think about it....timing is everything in the biotech world. Should PYMX go bankrupt, anyone interested in buying the assets would have to wait until the bankruptcy was completed. Who knows how long that would take. Also, I would imagine that the University of Penn would have some arrangement where the patents would revert back to them if this scenario were to occur. They could then license them to another more qualified company with deeper pockets.

Also.would the trials already conducted by PYMX even be admissible or would the new company have to start from scratch?

These are only a few reasons why I feel a buyout or cash infusion is more likely.

As Gandalf said....this is just my uninformed best guess.

[beachlover]

And I agree with you. Management is terrible.

[gandalf2325]

Agreed, obviously. Although, usually they don't go to the trouble of going the interim route if a buyout deal is imminent.

I think it means a financing deal is planned. Good news for investors as that is not a bad route all things considered. Right now, I'd give up 50% of the company to go another year and see results on OM and the single dose ABBBSI trial. Not pretty, but this company was nearly ridden into the ground by poor financial management and our options are not that great right now.

Partnering makes sense as well, but that's difficult to pull off at these market cap levels.

Just my uninformed thoughts...

[beachlover]

If there is a buyout deal in the works then it probably
did not include Nic staying around anyway.

[gandalf2325]

Nic is gone. Little disappointed the board didn't already have the new CEO lined up as obviously time is of the essence. Possible that the plan is liquidation, but why not just go ahead and do it already? Possible that a buyout offer is on the table, but then why wouldn't Nic stay another couple of weeks and finish it off?

Finally it's quite possible that investors have agreed in principle to invest capital in return for new leadership. That's the likely answer in my opinion.

Good news if that's the case even with some dilution.