Shares in Nymox Pharmaceutical Corporation (NASDAQ:NYMX) clocked gains of 13.23% Tuesday, closing at $3.68, after the company declared encouraging results from its late stage prostate cancer trial.
The company announced successful new study results from the long-term repeated injection group from the U.S. Phase 3 trials for fexapotide, in late stage development for enlarged prostate (BPH) and for localized prostate cancer.
“Results have now shown that there was long-term statistically significant symptomatic improvement compared to Phase 3 patients who received placebo alone,” Nymox said. “Repeat injection was found to be safe, with no significant drug-related toxicities or side effects found in the study.”
Nymox Pharmaceutical Corporation (NASDAQ:NYMX): Quarterly results
The company has not declared any quarterly numbers after May 15, 2015. Its annual accounts have been drawn up for the fiscal year ended December 31, 2015.
For fiscal 2015 the company, which is incorporated in the Bahamas, reported a net loss of $17.89 million.
Nymox Pharmaceutical Corporation (NASDAQ:NYMX): Outlook
The company claims that other treatments for BPH increase the risk of prostrate cancer. On the other hand fexapotide reduces the risk of cancer when used for treating BPH.
This is a powerful advantage that will allow the drug to capture additional market share if Nymox can secure FDA approval.
According to current reckoning, Nymox is said to be planning to file a New Drug Approval in the next couple of quarters.
It has plenty of data, having completed and fully financed the execution of seven Phase 3 U.S. BPH clinical protocols, including 2 prospective randomized multicenter single injection double blind clinical trials; 2 U.S. repeat injection clinical trials; and 3 U.S. blinded long-term clinical trial extension studies, according to the latest release. In addition, a number of Phase 3 safety and clinical pharmacology studies and analyses have been completed.