Nymox Pharma (NASDAQ: NYMX)
Nymox Pharma is having an incredibly strong day in the market today. It’s a much needed turn from the drastic declines we saw earlier this week. So, what’s sending the stock upward? Well, the company has announced major progress with regard to fexapotide. Today, we’ll talk about that data, how the stock reacted to the news, and what we can expect to see from NYMX moving forward. So, let’s get right to it…
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NYMX Releases Positive Data With Regard To Fexapotide
As mentioned above, Nymox Pharma is having an incredibly strong day in the market today, and for good reason. The company announced incredible progress surrounding fexapotide. Fexapotide is a Phase 3 treatment that’s currently undergoing 2 long-term phase 3 trials for the treatment of prostate enlargement (BPH).
In the announcement, NYMX explained that BPH patients who were treated with fexapotide, had an incredibly low incidence of later development of prostate cancer after up to 7 years of follow up. In fact, this incidence rate came in at 1.3%. This is an incredibly significant finding. In general, the incidence of prostate cancer in the population treated with PDE5 inhibitor drugs after 4 years was 19.5%.
As a result of the strong findings surrounding fexapotide, the treatment will be submitted to the United States Food and Drug Administration for approval over the next 6 months or so. Also, NYMX said that there is no significant need for new cash for pre-marketing development of the new treatment.
More Fexapotide News
Another bit of news that was released with regard to fexapotide was the completion of a 147-patient prospective controlled prostate cancer study for low grade localized cancer. The study showed that after a period of 18 months, patients treated with fexapotide showed statistically significant better outcomes. This difference was measured by cancer progression.
Following the release of both pieces of news, Nymox Pharma CEO Dr. Paul Averback had the following to offer:
“Our extremely low cash requirements and strong, comprehensive successful clinical trial results add up to a very strong position for the Company’s future. In this context we furthermore look forward to reporting in the very near future on some additional new clinical trial results for fexapotide.”
How The Stock Reacted To The News
NYMX needed this good news in a big way. After all, the company recently took a dive in a big way, and for good reason… we’ll get to that later. Nonetheless, the news that was released today is overwhelmingly positive news that’s leading to a strong recovery. Currently (1:49), the stock is trading at $2.30 per share after gaining $0.45 per share (24.32%) thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have a mixed opinion of what we can expect to see from NYMX. First and foremost, fexapotide looks like it could do incredible things for the company. If it is, indeed, approved by the FDA and the company can get it off of the ground quickly, we could see dramatic gains over the next couple of years.
On the other hand, it’s important to consider the risks associated with any investment. In this particular case, the stock recently took a dive. One of the big issues Nymox Pharmaceuticals faces is a recent whistle blower complaint. In the complaint, several factors were listed. It included claims that the company withheld data surrounding failed phase 3 trials, issued bullish releases for a period of 6-12 months after knowing of the failure, moved its domicile to limit transparency, and more. These are huge claims, and, if true, can come with tremendously negative implications for the stock. So, if you plan on getting involved in the NYMX frenzy we’re seeing at the moment, be sure to do your research and move with caution.
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What Do You Think?
Where do you think NYMX is headed moving forward? Join the discussion at TalkTRENDZ!
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