PHILADELPHIA, Nov. 26, 2014 /PRNewswire/ -- Cohen,
Placitella & Roth, PC is investigating potential claims on
behalf of investors who purchased Nymox Pharmaceutical Corporation
("Nymox" or "Company") (NASDAQ: NYMX) during the period from
January 31, 2011 through November 2, 2014 ("Class Period"). The
investigation concerns whether Nymox and certain of its officers
and directors publically disseminated materially false and/or
misleading information in violation of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 and Rule 10b-5, promulgated
thereunder.
Nymox researches and develops therapeutic and diagnostic drugs,
with an emphasis on targeting an aging U.S. population. Since
2002, the Company has been developing a novel proprietary drug
candidate, NX-1207, for the treatment of benign prostatic
hyperplasia ("BPH").
Nymox touted the safety, efficacy and general viability of
NX-1207 for over two years. As recently as June 11 2014, Nymox issued a press release
announcing "new clinical data supporting the positive safety
profile of NX-1207" and that trials to date, including a second
phase 3 trial of NX-1207 for BPH, titled NX02-0018, showed that men
"treated with NX-1207 reported statistically significant
improvement in BPH symptoms 3 months after a single NX-1207
treatment with no reported serious drug-related side
effects." The press release also stated "the absence of any
significant drug-related side effects" unlike current approved
drugs for BPH which "can produce significant sexual side effects."
Less than a week later, the Company issued another press
release on June 17, 2014, that
reported "new data supporting the positive sexual functional
preservation profile of NX-1207." By July 2014, the Company announced a new BPH
re-injection study, and touted "new positive efficacy data for U.S.
Study NX02-0022, the Company's repeat injection study of NX-1207
for BPH" in a July 22, 2014 press
release. On September 10, 2014,
the Company announced via press release that NX-1207 had shown
"positive outcome results" from an ongoing prospective trial for
the treatment of low grade localized prostate cancer.
However, in a surprise to the market, and contrary to the
positive statements concerning the NX02-0017 and NX02-0018 trials,
Nymox disclosed on November 2, 2014
that the Company's two Phase 3 U.S. studies of NX-1207 (including
NX02-0018) had to be halted because the drug failed to meets its
primary endpoints for efficacy.
On November 3, 2014, Nymox
disclosed for the first time, among other things, the difficulties
the Company faced in enrolling men for the trials and the
subjective nature of the measurement of the drug's success.
In response to that news, the price of Nymox common stock fell 82%
to close at $.93 in heavy trading
volume of 19.6 million shares. The Company's U.S. BPH program
is currently on hold, pending further evaluation of data.
If you have any information about this investigation or, if you
wish to discuss your rights as a shareholder in Nymox, please
contact Eduardo A. Texidor, Jr., no
later than January 12, 2015, at
etexidor@cprlaw.com or, toll free, at 1-888-375-7600. For
those investors inquiring via email, please be sure to include
"Nymox" in the subject line, the number of shares purchased, and
your mailing address and telephone number.
Since 1973, Cohen, Placitella & Roth, P.C. has been
recognized as one of the premier trial law firms in the country.
The firm has extensive experience in prosecuting securities
litigation involving violations of the federal securities laws,
state law derivative actions and mergers and acquisitions cases,
representing institutional investors such as public pension plans
and union pension funds as well as individual shareholders
suffering substantial investment losses due to corporate
misconduct. LexisNexis Martindale-Hubbell® annually reports
Cohen, Placitella & Roth's peer rating-the highest AV® - "a
testament to professional excellence." Since the inauguration
of its "Best Law Firms" edition in 2010, U.S. News and World Report
has annually listed Cohen, Placitella & Roth's as one of the
top-tier class action law firms in the country.
Contact:
Eduardo A. Texidor, Jr.
Cohen, Placitella & Roth, PC
Toll free: 1-888-375-7600
etexidor@cprlaw.com
www.cprlaw.com
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