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Why Nymox Pharma (NYMX) Closed the Day Up 83%

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On Wednesday, shares of drug researcher and developer Nymox Pharmaceuticals Corp. (NYMX - Free Report) skyrocketed, closing the day up over 83% on news that the company’s long-term trial for an enlarged prostate (BPH) and prostate cancer drug was successful.

The drug, fexapotide, was tested in a study with 391 patients who received double-blind placebo injections, followed by either fexapotide or conventional treatments. Over the following two or three years, the patients’ BPH symptoms were then monitored and analyzed.

Nymox reported that 82%-95% who were given fexapotide after the placebo did not need surgery in comparison to the others who received the conventional treatments.

“These exciting results from this long-term prospective analysis confirm what I and other researchers have consistently seen in the clinic -- that it is obvious that fexapotide greatly helps patients in terms of symptomatic benefit for their BPH; and with these results, the clinical benefit also results in much less need for surgical intervention over the long-term,” said Dr. Mo Bidair, Medical Director of San Diego Clinical Trials in San Diego, CA.

In a company statement, CEO Paul Averback said that "Fexapotide shows significant efficacy against prostate cancer as a therapeutic, and in addition has been shown to reduce the risk of prostate cancer when fexapotide is used to treat BPH.”

Nymox expects to file for drug approval in the next quarter or two. It plans on publishing its findings on fexapotide in peer review medical journals and in presentations at medical and urological meetings.

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