What can be said about PolyMedix, Inc. (OTC:PYMX) when looking at the chart is that PYMX stock has a relatively stable market behavior without counting on bombastic PRs or paid advertising. Because, according to our vast newsletters database, PYMX stock has not been subject to promotional pumping yet.
Yesterday, PYMX gained 2.31% in value, closing at a five-week high of $0.665 per share. The volume reached almost 240 thousand, which is the highest figure since the beginning of September and considerably higher than the daily average trading volume of 176 thousand.
The latest PYMX-related news popped up at the beginning of the week, on Monday and Tuesday, respectively. First, the emerging biotechnology company assured its supporters that it would be providing updates on its two lead clinical programs within the upcoming months. Second, PYMX announced it would make a presentation at the UBS Global Life Sciences Conference scheduled to take place on Sep 19-21 in New York. While it is not clear what the developer of novel therapeutic drugs for the treatment of acute cardio-vascular and life-threatening diseases will actually present at the conference, PYMX supporters might be in for a nice or mediocre surprise.
PYMX recently filed a full-blown 10-Q form covering the second calendar quarter of 2011. As of Jun. 30, the company had:
- cash reserves in excess of $28 million;
- working capital surplus of $24 million;
- a quarterly loss of $5.2 million.
As it is, PYMX seems to have a stable financial condition at the moment, which will allow it to continue developing its product candidates in the months to come. However, PYMX had better use its working capital wisely and come up with something commercially viable if managers really want to maximise shareholder value.
