HASBROUCK HEIGHTS, N.J., March 14, 2014 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the year ended December 31, 2013 prepared in accordance with International Financial Reporting Standards. Nymox reported a net loss of $4,908,603, or $0.14 per share for the year ended December 31, 2013, compared to $7,627,589, or $0.23 per share for same period in 2012. The decrease of the net loss for the year is attributable primarily to a reduction of stock-based compensation charges which were $307,326 in 2013 compared to $1,962,085 in 2012. The weighted average number of common shares outstanding for the year ended December 31, 2013 was 34,147,666, compared to 33,176,185 for the same period in 2012.
Revenues from sales amounted to $741,410 for the year ended December 31, 2013, compared to $454,987 for the same period in 2012. The increase in 2013 is due to the sale of clinical trial materials under our supply agreement with our European licensing partner, Recordati. Additionally, an amount of $2,617,600 was recognized as revenue in both 2013 and 2012 relating to the upfront payment received pursuant to our licensing agreement with Recordati in December 2010.
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: Brian Doyle Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.com