HASBROUCK HEIGHTS, N.J., May 14, 2010 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the first quarter of 2010. Nymox reported a net loss of $1,269,550, or $0.04 per share for the quarter ending March 31, 2010, compared to $1,004,259, or $0.03 per share for same period in 2009. Net losses include stock compensation charges of $195,220 in 2010 and $309,650 in 2009. The increase in net losses is attributable to higher clinical trial expenditures compared to 2009. Product sales increased by 157% to $246,861 for the first quarter of 2010, compared to $96,226 for the same period in 2009. The weighted average number of common shares at March 31, 2010 was 31,473,825, compared to 30,253,246 at March 31, 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 NicAlert(TM) and TobacAlert(TM) 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.