Nymox Announces Private Placements of $2.24 Million
August 17 2016 - 10:00AM
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.
For more information please contact
info@nymox.com or 800-936-9669.
Forward Looking Statements
To the extent that statements contained in this
press release are not descriptions of historical facts regarding
Nymox, they are forward-looking statements reflecting the current
beliefs and expectations of management made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995, including statements regarding the need for new options to
treat BPH and prostate cancer, the potential of fexapotide to treat
BPH and prostate cancer and the estimated timing of further
developments for fexapotide. Such forward-looking statements
involve substantial risks and uncertainties that could cause our
clinical development program, future results, performance or
achievements to differ significantly from those expressed or
implied by the forward-looking statements. Such risks and
uncertainties include, among others, the uncertainties inherent in
the clinical drug development process, including the regulatory
approval process, the timing of Nymox's regulatory filings, Nymox's
substantial dependence on fexapotide, Nymox's commercialization
plans and efforts and other matters that could affect the
availability or commercial potential of fexapotide. Nymox
undertakes no obligation to update or revise any forward-looking
statements. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of Nymox in general, see Nymox's current
and future reports filed with the U.S. Securities and Exchange
Commission, including its Annual Report on Form 20-F for the year
ended December 31, 2015, and its Quarterly Reports.
Contact:
Paul Averback
Nymox Pharmaceutical Corporation
800-93NYMOX
www.nymox.com
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