HASBROUCK HEIGHTS, N.J., May 15, 2013 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the first quarter of 2013. Nymox reported a net loss of $1,093,906, or $0.03 per share for the quarter ended March 31, 2013, compared to $1,846,974, or $0.06 per share for the quarter ended March 31, 2012. The decrease in net losses in 2013 compared to 2012 is related to reductions in many areas of expenditures mainly due to a reduction in clinical trial expenditures as the NX-1207 studies near completion.
Revenues from sales amounted to $184,246 for the quarter ended March 31, 2013, compared to $85,179 for the same period in 2012. An increase in orders from one customer for NicAlert™/TobacAlert™ in the first quarter of 2013 (increase of approximately $38,000) compared to the same period in 2012 as well as new revenue relating to our licensing agreement (approximately $73,000) explain the growth in sales. Additionally, for the three months ended March 31, 2013 and 2012, amounts of $654,400 respectively were recognized as revenue relating to the upfront payment received in December 2010 under the licensing agreement. The weighted average number of common shares at March 31, 2013 was 33,679,486, compared to 32,994,621 at March 31, 2012.
The Annual General Meeting of Shareholders will be held on Wednesday, June 12, 2013, not Thursday, June 12, 2013 as was incorrectly printed in the Notice of Annual Meeting mailed to shareholders.
Nymox Pharmaceutical Corporation is 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 in the U.S. and Europe. The Company's candidate drug for prostate cancer is currently in Phase 2 testing in the U.S. Currently Nymox has three products on the market, and a healthy pipeline of drug and diagnostic products. The Company also has several hundred patents and patent applications.
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.
For Further Information Contact: Roy Wolvin Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.com