PolyMedix plans reverse stock split

Posted: March 07, 2013

PolyMedix Inc., a struggling Radnor biotech firm that has been considering strategic alternatives that may include a sale of the company, announced a plan for a reverse stock split to increase the per-share price of its common stock.

Share are currently traded over the counter, and the company said it's goal would be to list on the Nasdaq.

The company called a shareholder meeting for March 15 to vote on the proposal.

PolyMedix, which is developing a treatment for skin infections, in January replaced then-CEO Nicholas Landekic with CFO Edward F. Smith as interim chief executive. Shares have traded in a range of 6 cents to $1.39 over the last year. They were down 1 cent, to 10 cents, in afternoon trading.

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