One company that has been in the market for a pretty long time now thus making us accustomed to it is Nymox Pharmaceutical Corp. (NASDAQ:NYMX). However, in the last five years, Nymox Pharmaceutical Corp. (NASDAQ:NYMX)’s stock seems to have fallen into the deep depths of the ocean. It shares had rallied 100% in the past week out of the blue. The question here remains that are investors thinking that the jump was because Nymox Pharmaceutical Corp. (NASDAQ:NYMX) is back in the market or if it was just a fluke.
Nymox Pharmaceutical Corp. (NASDAQ:NYMX) reported this Wednesday that it is doing its best to undertake an analysis of the Phase 3 studies for its NX-1207 used in prostate enlargement (BPH). Thus there will be a new long term data through both the NX02-0017 as well as the NX02-0018 studies. Therefore, Nymox Pharmaceutical Corp. (NASDAQ:NYMX)thinks that it will be able to give these Phase 3 results in either Q2 or Q3 of the current year.
Both the NX02-0017 along with the NX02-0018 studies had begun back in 2009. The NX02-0017, incorporated as much as 499 patients which were randomized and this study was completed somewhere in 2012. On the other hand, the NX02-0018 incorporated 498 patients randomized thus being completed in 2013. With a post treatment of 12 months, there wasn’t any statistical significance in the treatment’s efficacy with regard to the BPH Symptom Score improvement vs controls.
The NX-1207’s safety profile was a very strong one though. CEO of Nymox Pharmaceutical Corp. (NASDAQ:NYMX), Dr. Paul Averback reported that even with the setback of the top line results not being able to beat the controls at the post treatment of 12 months in the studies.Nymox Pharmaceutical Corp. (NASDAQ:NYMX)still thinks that the NX-1207 has a lot of potential in the management of the BPH in the long term. On the other hand, added blinded protocol results from the pivotal studies have been captures thereby assessing the long term results of patients five years after the single injection given of the NX-1207 2.5 mg versus the placebo.
Nymox Pharmaceutical Corp. (NASDAQ:NYMX) had also let the market in on the fact that the financial results a day before the announcement had been made. Nymox Pharmaceutical Corp. (NASDAQ:NYMX)had stated that this showed a $0.13/share net loss on revenue amounting to as much as $331,909 with the year ending December 2014.On the other hand, NX-1207 is currently in a late development stage as well for localized prostate cancer at a low grade.
Back in 2014, NymoxPharmaceutical Corp. (NASDAQ:NYMX) had reported its eight month efficacy results which showed that there was a statistical amount of decrease in cancer progression for patients that had been given the NX-1207 as compared to the care standard.