Nymox Reports First Quarter 2014 Financial Results
May 15 2014 - 9:45AM
Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its
financial results for the first quarter of 2014. Nymox reported a
net loss of $2,592,816, or $0.07 per share for the quarter ended
March 31, 2014, compared to $1,093,906, or $0.03 per share for the
quarter ended March 31, 2013. The increase in net loss is due to
stock compensation charges of $1,420,185 in 2014 compared to
$26,640 in 2013.
Revenues from sales amounted to $78,164 for the quarter ended
March 31, 2014, compared to $184,246 for the same period in 2013.
The decrease in the first quarter of 2014 compared to the same
period in 2013 is due to a decrease of $33,156 in sales of
NicAlert™/TobacAlert™ as well as the non-recurrence of the sale of
goods of $72,926 in 2013 under our licensing agreement with
Recordati. Additionally, for the three months ended March 31, 2014
and 2013, amounts of $654,400 respectively were recognized as
revenue relating to the upfront payment received in December 2010
under the licensing agreement. The weighted average number of
common shares at March 31, 2014 was 34,797,302, compared to
33,679,486 at March 31, 2013.
The Annual General Meeting of Shareholders will be held on
Thursday, June 19, 2014.
Nymox Pharmaceutical Corporation is engaged in the research and
development of therapeutics and diagnostics, with an emphasis on
therapeutic products for the unmet needs of the aging population.
The Company's investigational new drug for prostate enlargement
(benign prostatic hyperplasia or BPH) is in late Phase 3
development in the U.S. and in Europe. The Company's
investigational drug for low-grade localized prostate cancer is
currently in Phase 2 testing in the U.S. Nymox has a healthy
pipeline of drug candidates under development. The Company 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: Brian Doyle
Nymox Pharmaceutical Corporation
1-800-93NYMOX
www.nymox.com
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