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Nymox Reports Second Quarter 2012 Financial Results

Stocks in this article: NYMX

HASBROUCK HEIGHTS, N.J., Aug. 14, 2012 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the second quarter of 2012. Nymox reported a net loss of $1,721,128, or $0.05 per share, for the quarter and $3,568,103, or $0.11 per share, for the six months ended June 30, 2012, compared to $1,948,132, or $0.06 per share, for the quarter and $6,379,223, or $0.20 per share, for the six months ended June 30, 2011. Net losses include stock-based compensation charges of $129,666 for the six months ended June 30, 2012 and $3,666,158 in the comparative period in 2011. The decrease in net losses is attributable primarily to lower stock-based compensation charges in 2012 compared to 2011.

Revenues from sales amounted to $209,673 for the six months ended June 30, 2012, compared to $222,697 for the same period in 2011. Additionally, for the six months ended June 30, 2012 and 2011, amounts of $1,308,800 respectively were recognized as revenue relating to the upfront payment received from Recordati in December 2010. The weighted average number of common shares at June 30, 2012 was 33,025,559, compared to 32,597,725 at June 30, 2011.

Paul Averback, CEO of Nymox said, "During the second quarter Nymox made steady progress in the development of NX-1207 for BPH and low-risk localized prostate cancer. The pivotal Phase 3 trials of NX-1207 for BPH are expected to reach full enrollment in the near term and the Safety Committee reviews of ongoing safety data continue to be positive. The U.S. Phase 3 re-injection trial of NX-1207 for BPH completed enrollment in July in only 12 months. The enthusiastic response from patients who had previously received an intraprostatic injection in an earlier trial and enrolled for a second injection indicates that patients are comfortable with the convenience and relative painlessness of the procedure. The Phase 2 prostate cancer study has already enrolled its first patients and patient accrual is progressing well. The Company expects to report further trial results later this year."

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