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Positive news flowed in at Nymox Pharmaceutical Corporation recently when the Independent Data Monitoring Committee (IDMC) reported the third positive analysis of safety data from the company’s ongoing phase II study (NX03-0040) of NX-1207 for low grade localized prostate cancer.  

The IDMC’s interim safety analysis found no significant safety concerns associated with the use of NX-1207 for the treatment of low risk localized prostate cancer. The NX03-0040 study is assessing the efficacy and safety of both low (2.5 mg) and high (15 mg) single doses of NX-1207 in eradicating or shrinking low grade localized prostate cancer tumors. The phase II study is ongoing and is expected to be completed by May 2013.

NX-1207 is in phase III development both in the US and Europe for the treatment of patients suffering from benign prostatic hyperplasia (BPH). In Europe, the company has a licensing agreement with Recordati S.p.A. Recordati is sponsoring the recently initiated phase III study in Europe.

We note that the prostrate cancer market offers a lucrative opportunity. Currently approved prostate cancer treatments include Johnson & Johnson’s (JNJ - Analyst Report) Zytiga. Moreover, the prostate cancer market saw a new entrant in Aug 2012 in the form of Medivation’s (MDVN - Analyst Report) Xtandi (enzalutamide).

Nymox Pharma currently carries a Zacks Rank #3 (Hold). Stocks that currently look attractive in the pharma space include companies like Cytokinetics, Inc. (CYTK - Snapshot Report) carrying a Zacks Rank #1 (Strong Buy).

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