Dallas, Texas 07/28/2015 (Financialstrend) – Nymox Pharmaceutical Corporation (NASDAQ:NYMX) was a big mover on Monday trading session with the stock rallying by more than 100%. The rally was down to the company announcing that its US long-term extension prospective, double-blind Phase 3 BPH studies NX02-0017 and NX02-0018 of fexapotide triflutate had met the primary endpoint with better results than placebo.
Positive Clinical Trials
The stock was already up by more than 200% as of last week begging the question as to whether Nymox Pharmaceutical Corporation (NASDAQ:NYMX) can be able to sustain the rally. Clinical trials of Fexapotide showed excellent safety profile with no drug-related toxicity or any molecular side effects.
Nymox Pharmaceutical Corporation (NASDAQ:NYMX) has already announced plans to meet with authorities with a view to seeking regulatory approval for the use of the drug in various jurisdictions. The drug according to the trials successfully reduced the need for surgery for patients under trial in Phase 3 significantly reducing the need for BPH surgery within 24 months of fexapotide
The company maintains the new treatment is way superior to other treatments already in use, as it has minimal or no sexual hormonal or debilitating side effects. Phase 2 test results also showed reduced prostate cancer risk with the use of Fexapotide while also resulting in less progression compared to other controls.
Capital Raising
Nymox Pharmaceutical Corporation (NASDAQ:NYMX) also engages in the research and development of new products that target the needs of the aging population. The company offers NicAlert and TobacAlert tests that detect the use of tobacco products by analyzing saliva and urine. AlzheimAlert is a proprietary urine assay that aids physicians in the diagnosis of Alzheimer disease.
Separately Nymox Pharmaceutical Corporation (NASDAQ:NYMX) recently completed financing for a total of $850,000 after selling a total of 400,000 shares for $1.25 a share to a private European investor. The company also sold an additional 217, 122 shares at a price of $1.66 a share.
