Nymox Reports Third Quarter 2012 Financial Results
HASBROUCK HEIGHTS, N.J., Nov. 14, 2012 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the third quarter of 2012. Nymox reported a net loss of $1,245,563, or $0.04 per share, for the quarter and $4,813,666, or $0.15 per share, for the nine months ended September 30, 2012, compared to $1,614,041, or $0.05 per share, for the quarter and $7,993,264, or $0.24 per share, for the nine months ended September 30, 2011. Net losses include stock-based compensation charges of $294,945 for the nine months ended September 30, 2012 and $3,943,338 in the comparative period in 2011. The decrease in net losses is attributable primarily to lower stock-based compensation charges in 2012 compared to 2011.
Revenues from sales amounted to $319,837 for the nine months ended September 30, 2012, compared to $373,009 for the same period in 2011. Additionally, for the nine months ended September 30, 2012 and 2011, amounts of $1,963,200 respectively were recognized as revenue relating to the upfront payment received from Recordati in December 2010. The weighted average number of common shares at September 30, 2012 was 33,115,780, compared to 32,636,771 at September 30, 2011.
Paul Averback, CEO of Nymox said, "During the third quarter Nymox made progress in the development of NX-1207 for BPH and low-risk localized prostate cancer. The pivotal Phase 3 trials of NX-1207 for BPH will reach full enrollment shortly. Safety Monitoring Committee reviews of safety data have been positive. The U.S. Phase 3 NX02-0020 re-injection trial of NX-1207 for BPH completed enrollment in July in only 12 months and full efficacy and safety data for the NX02-0020 trial is expected within a few months. The Phase 2 prostate cancer study patient accrual is progressing well."
"The excellent enrollment in the NX-1207 repeated injection study shows that patients are very comfortable with this relatively painless procedure. Urologists are enthusiastic about the potential of NX-1207 for the treatment of BPH, and for focal treatment of low grade cancer of the prostate," Dr. Averback added.
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.
CONTACT: Roy Wolvin
Nymox Pharmaceutical Corporation