This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nymox Announces New $15 Million Equity Financing Commitment

HASBROUCK HEIGHTS, N.J., Nov. 29, 2010 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) is pleased to announce that the Company has secured commitment for $15 million in equity financing from institutional investors. The new funding will be used for general corporate purposes including the Company's current Phase 3 U.S. trials for NX-1207, Nymox's late stage drug in development for benign prostatic hyperplasia (BPH). The financing gives the Company the right to place common stock to the investors at a 3% discount to the market price of the Company's stock. There are no warrants, price resets, and no restrictions on other corporate financing. The timing and amount of each placement is in the sole discretion of the Company.

Nymox's CFO, Roy Wolvin, said: "Nymox continues to achieve minimal dilution for our shareholders, a very low burn rate by industry standards, and zero long term debt."

Nymox Pharmaceutical Corporation is a biotechnology company 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. Nymox has a number of drugs in development for other indications. The Company offers NicAlert™ and TobacAlert™ tests for measuring tobacco product exposure, and AlzheimAlert™, a test to aid in the diagnosis of Alzheimer's disease.

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:  Nymox Pharmaceutical Corporation
          Roy Wolvin
          1-800-93NYMOX
          www.nymox.com

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs