NEW YORK (TheStreet) -- Nymox Pharmaceutical(NYMX) - Get Report shares are flat lining in trade on Monday, down 82% to 89 cents per share, after the biopharmaceutical company announced that two phase 3 studies of its prostate enlargement treatment failed to produce the desired results.

The drug, NX-1207, is supposed to treat benign prostatic hyperplasia and was the company's main developmental focus. Nymox said that it will hold a conference call at 4:30 p.m. Eastern time today to discuss the study results in detail.

The trials did not show a significant improvement in patients' conditions when compared to a placebo, though the treatment did show show promising results for certain types of low-grade, localized prostate cancer, according to the company.

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