NEW YORK (TheStreet) -- Shares of Nymox Pharmaceuticals (NYMX) - Get Report were jumping 23.24% to $2.28 in mid-afternoon trading on Thursday as the company announced it will file a marketing application for approval of its enlarged prostate medication, fexapotide, in the next one or two quarters.
Nymox may partner with a larger company to market the drug "if satisfactory terms can be negotiated," the company noted in a statement. Nymox doesn't expect it will require additional funds for pre-marketing development.
The company recently completed two successful Phase III BPH trials on fexapotide, with patients reporting low incidence of future prostate cancer development seven years after taking the injectable drug.
No incidents or negative symptoms were reported as a result of the drug.
Nymox is a Hasbrouck Heights, NJ-based pharmaceuticals company that specializes in the research and development of therapeutics and diagnostics, specifically products targeted for the elderly.