Nymox Pharma (NYMX) Closes $2.24M Worth of Common Stock Private Placements

August 17, 2016 10:02 AM EDT

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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.

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