Nymox Reports 2013 Financial Results
March 14 2014 - 1:00PM
Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its
financial results for the year ended December 31, 2013 prepared in
accordance with International Financial Reporting Standards. Nymox
reported a net loss of $4,908,603, or $0.14 per share for the year
ended December 31, 2013, compared to $7,627,589, or $0.23 per share
for same period in 2012. The decrease of the net loss for the year
is attributable primarily to a reduction of stock-based
compensation charges which were $307,326 in 2013 compared to
$1,962,085 in 2012. The weighted average number of common shares
outstanding for the year ended December 31, 2013 was 34,147,666,
compared to 33,176,185 for the same period in 2012.
Revenues from sales amounted to $741,410 for the year ended
December 31, 2013, compared to $454,987 for the same period in
2012. The increase in 2013 is due to the sale of clinical trial
materials under our supply agreement with our European licensing
partner, Recordati. Additionally, an amount of $2,617,600 was
recognized as revenue in both 2013 and 2012 relating to the upfront
payment received pursuant to our licensing agreement with Recordati
in December 2010.
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.
More information about Nymox is available at www.nymox.com,
email: info@nymox.com, or 800-936-9669.
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: For Further Information Contact:
Brian Doyle
Nymox Pharmaceutical Corporation
1-800-93NYMOX
www.nymox.com
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