HASBROUCK HEIGHTS, N.J., Nov. 12, 2010 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the third quarter of 2010. Nymox reported a net loss of $1,760,474, or $0.05 per share for the quarter and $4,775,822, or $0.15 per share for the nine months ended September 30, 2010, compared to $1,362,840, or $0.04 per share for the quarter and $3,587,251, or $0.12 per share for the nine months ended September 30, 2009. Net losses include stock compensation charges of $262,900 for the quarter and $703,365 for the nine months ending September 30, 2010, and $322,808 and $881,344 respectively for the same periods in 2009. The increase in net losses is attributable to higher clinical trial expenditures compared to 2009. Product sales amounted to $378,307 for the nine months ending September 30, 2010, compared to $248,471 for the same period in 2009. Sales to new clients explain the increase. The weighted average number of common shares outstanding for the nine months ended September 30, 2010 was 31,768,510 compared to 30,570,732 for the same period in 2009.
Nymox Pharmaceutical Corporation is a biotechnology company engaged in the research and development of therapeutics and diagnostics, with a particular emphasis on products targeted for the unmet needs of the aging population. The Company's new drug for benign prostatic hyperplasia (BPH) is in Phase 3 development. Nymox has a number of drugs in development for other indications such as E. coli infection, Alzheimer's disease, oncology, and infectious disease. The Company offers NicAlertTM and TobacAlertTM tests for measuring tobacco product exposure, and AlzheimAlert TM, a test to aid in the diagnosis of Alzheimer's disease.
More information about Nymox is available at www.nymox.com, email: info@nymox.com, or 800-936-9669.
This press release contains certain "forward-looking statements" as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in Nymox's filings with the United States Securities and Exchange Commission and other regulatory authorities.