HASBROUCK HEIGHTS, N.J., Aug. 17, 2016 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (NASDAQ:NYMX) is pleased to announce that it has recently closed private placements and other investments in the Company for a total of $2.24 million. The investments totaled 965,649 shares at an average price of $2.32 with no warrants. The funds will be used for general corporate purposes. The majority of the investment came from long-term non-insider shareholders in the Company.
Erik Danielsen, CFO of Nymox said, "This additional funding from long-term supportive shareholders provides an extra cash cushion for our regulatory filing preparation activities currently underway. We are extremely pleased with the support we get from many of our long-term shareholders who share our assessment that the Company's near-term prospects are excellent. Our fact-based confidence in Nymox's future is also reflected in the significant ongoing buying of our shares in the open market by long-term shareholders and officers and directors of the company."
Nymox recently announced that long-term BPH studies of the Company's lead drug fexapotide showed excellent safety and efficacy results, in addition to a dramatic reduction in the long-term incidence of prostate cancer in the BPH studies compared to the expected incidence from comparable patient studies in the literature. Fexapotide treated patients also had significantly reduced long-term prostate cancer incidence compared to placebo-treated BPH patient controls.
Nymox CEO Paul Averback M.D. stated last week that further clinical trial results for fexapotide were expected to be reported in the very near future.
For more information please contact info@nymox.com or 800-936-9669.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox's regulatory filings, Nymox's substantial dependence on fexapotide, Nymox's commercialization plans and efforts and other matters that could affect the availability or commercial potential of fexapotide. Nymox undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox's current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2015, and its Quarterly Reports.