NEW YORK (TheStreet) -- Nymox Pharmaceutical (NYMX) 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.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.