HASBROUCK HEIGHTS, N.J., June 16, 2015 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq: NYMX ) is pleased to announce that it has recently completed financing for a total of $850,000 at prices of $1.25-$1.66. The financing consisted of a private placement of 400,000 shares with a European investor at $1.25 per share and an equity line drawdown from the Company's existing facility consisting of 217,122 shares priced at $1.66 per share. There were no warrants attached to the transactions.
The Company's lead product NX-1207 is in Phase 3 development for benign prostatic hyperplasia (BPH). Nymox recently announced that the Company is conducting Phase 3 NX-1207 BPH pivotal studies long-term follow-up extension data capture that is expected to be completed and results reported in late Q2 or early Q3 2015.
Nymox has also recently reported a successful Phase 2 long-term outcome study in 147 men of NX-1207 at higher dosage for low grade localized prostate cancer.
BPH is one of the most commonly diagnosed diseases in middle aged and older men. The condition has negative impacts on men's health and quality of life and often leads to need for surgery. It is estimated that 50% of men in their 50's have pathological signs of prostatic hyperplasia and one quarter to one half of men over 40 suffer from moderate to severe urinary symptoms associated with BPH.
The American Cancer Society estimates that in 2012 more than 240,000 men in the United States will be newly diagnosed with prostate cancer and more than 28,000 men will die from the disease. Most cases are detected via prostate-specific antigen (PSA) screening and usually found to have localized tumors. Surgical removal of the prostate (radical prostatectomy) and radiation therapy with or without androgen deprivation therapy are the most common active treatment options for localized prostate cancer but have significant short and long-term adverse effects, including impotence, urinary dysfunction, and other complications.
For more information please contact 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. Development of drug products involves substantial risks and actual results may differ materially from expectations. Factors that could cause actual results or events to differ materially from those projected in forward-looking statements 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: Paul Averback Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.com
