HASBROUCK HEIGHTS, N.J., Aug. 14, 2013 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq: NYMX ) announced today its financial results for the second quarter of 2013. Nymox reported net losses of $1,477,389, or $0.04 per share, for the quarter and $2,571,295, or $0.08 per share, for the six months ended June 30, 2013, compared to $1,721,128, or $0.05 per share, for the quarter and $3,568,103, or $0.11 per share, for the six months ended June 30, 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 $185,186 for the quarter and $369,432 for the six months ended June 30, 2013, compared to $124,494 for the quarter and $209,673 for the six months ended June 30, 2012. The increase for the quarter and the first six-months of 2013 compared to the same periods in 2012 is due to new sales revenue relating to the sale of goods under our licensing agreement.
Additionally, for the six months ended June 30, 2013 and 2012, amounts of $1,308,800 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 for the six months ended June 30, 2013 was 33,857,671, compared to 33,025,559 for the same period in 2012.
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.
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.
Roy Wolvin Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.com
