NEW YORK (TheStreet) -- Shares of Nymox Pharmaceuticals  (NYMX) - Get Report spiked 49.49% to $1.48 in early afternoon trading Monday after the company announced long-term clinical trial results from its NX-1207 Phase 2 prostate cancer study NX03-0040.

The results showed statistically significant better outcomes at up to 2.8 years for patients treated with NX-1207 compared to controls.

The trial included 146 patients with low grade localized prostate cancer at 44 U.S. investigational sites.

"These new results show the potential of NX-1207 to offer men with the most common form of low-grade prostate cancer a significant tangible benefit in terms of avoidance of radiation and/or surgery and the related risks, discomforts, and permanent side effects," said Nymox CEO, Paul Averback M.D., in a statement. "The results show a significant positive effect from a single painless injection which is very exciting."

More than 8.4 million shares had changed hands as of 12:08 p.m., compared to the daily average volume of 1,066,060.

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