Shares of Nymox Pharmaceutical Corporation ( NASDAQ: NYMX ) are seeing a huge
rally in today's trading. The small cap stock reached a 52-week high of $7.76
in mid-day trading, and at last check, it was up 61.46% to $6.20, with volume up
from daily average of 52,972 to 1.78 million. Nymox recently announced that it
secured commitment for $15 million in equity financing from institutional
investors. The new funding is expected to be used for general corporate purposes
including the companys current Phase 3 U.S. trials for NX-1207 which is in
Nymoxs late stage drug development for benign prostatic hyperplasia (BPH). The
financing provides the company the right to place common stock to the investors
at a 3% discount to the market price of the companys stock. The company is not
restricted to warrants, price resets and other corporate financing. The timing
and amount of each placement is in the sole discretion of the company. Also
recently, the company announced its third quarter financial results, with net
loss of $1,760,474, or $0.05 per share for the quarter and $4,775,822, or $0.15
per share for the nine months ended September 30, 2010 as compared to $1,362,840
or $0.04 per share for the quarter and $3,587,251, or $0.12 per share for the
comparable period previous year. This net loss include stock compensation
charges of $262,900 for the quarter and $703,365 for the nine months ending
September 30, 2010, and $322,808 and $881,344 respectively for the comparable
period previous year. The increase in net losses is attributable to higher
clinical trial expenditures as compared to previous year. The product sales
amounted to $378,307 for the nine months ending September 30, 2010 as compared
to $248,471 for the comparable period previous year. This was attributable to
increase in sales to new clients. Nymox Pharmaceutical Corporation engages in
the research and development of therapeutics and diagnostics, with a particular
emphasis on products targeted for the unmet needs of the aging population. Need
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stock: http://thestockmarketwatch.com/ Disclosure: This corporate profile is
provided for information purposes only and should not be used as the basis for
any investment decision. We are neither licensed nor qualified to provide
investment advice. We were not paid, nor do I hold a position in these stocks.
We reserve the right to buy or sell NYMX at any time after this post.
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