Nymox Reports 2011 Financial Results

Date : 03/15/2012 @ 9:34AM
Source : GlobeNewswire Inc.
Stock : Nymox Pharmaceutical Corp. (NYMX)
Quote : 3.75  0.21 (5.93%) @ 8:00PM
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Nymox Reports 2011 Financial Results

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Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the year ended December 31, 2011 prepared in accordance with International Financial Reporting Standards. Nymox reported a net loss of $9,652,389, or $0.30 per share for the year ended December 31, 2011, compared to $6,536,313, or $0.20 per share for same period in 2010. The increase of the net loss for the year is attributable primarily to stock-based compensation charges which were $4,005,404 in 2011 compared to $478,865 in 2010. The weighted average number of common shares outstanding for the year ended December 31, 2011 was 32,711,431, compared to 31,940,584 for the same period in 2010.

Revenues from sales amounted to $496,215 for the year ended December 31, 2011, compared to $582,383 for the same period in 2010. The decrease in sales is attributed to a large number of orders by one client for NicAlertâ„¢ and TobacAlertâ„¢ in 2010 which were not repeated in 2011. Additionally, an amount of $2,617,600 was recognized as revenue relating to the upfront payment received from Nymox's licensing agreement with Recordati in December 2011 compared to $109,067 recognized in 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. 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: Roy Wolvin
         Nymox Pharmaceutical Corporation

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