NEW YORK (TheStreet) -- Shares of Nymox Pharmaceuticals (NYMX) - Get Report fell 7.37% to $1.60 in morning trading Monday as investors took profits following four straight days of gains last week in which the stock rose more than 175%.
The stock soared last Wednesday after the company announced that it would begin further analyses of its Phase 3 studies of NX-1207 for prostate enlargement (BPH). These analyses will include new long-term data from studies NX02-0017 and NX02-0018. Nymox plans to provide these new late-stage trial results in the second quarter or early third quarter.
"Despite the setback of top-line results not initially beating controls statistically at 12 months post-treatment in these large studies, we continue to believe that NX-1207 has enormous potential for long-term management of BPH," said Nymox CEO Dr. Paul Averback.
"Additional new blinded protocol data from the same pivotal studies is being prospectively captured in order to assess long-term results in patients up to 5 years after a single injection of NX-1207 2.5 mg vs placebo," he continued.
NX-1207 is also in late-stage development for low grade localized prostate cancer. Last year, Nyvox reported eight-month efficacy results that demonstrated statistically significant reduced cancer progression in patients who received NX-1207 compared to standard of care.
More than 1.7 million shares had changed hands as of 10:31 a.m., compared to the daily average volume of 824,089.