Nymox Pharma (NASDAQ: NYMX)
Nymox Pharma is having an incredible day in the market today, and for good reason. Yesterday, the company reported the results from a key phase 3 clinical trial. Today, we’ll talk about the results that were released, how the market reacted to the news, and what we can expect to see from NYMX moving forward. So, let’s get right to it…
Trade smarter and make more money with Tradespoon!
NYMX Releases Promising Fexapotide Data
Nymox has been working for several years to develop the treatment known as fexapotide. Originally designed to treat enlarged prostate, or BPH, through previous studies, the treatment has also proven that it is overwhelmingly effective when it comes to prostate cancer. Now, we’re getting even more exciting data with regard to the treatment.
In a statement yesterday, NYMX released the results from a phase 3 study looking into the treatment. During the study, some patients were given fexapotide followed by a crossover treatment that is currently approved and available to patients. In the study, the company found that patients who were treated with fexapotide followed by the crossover treatment were 82% to 95% less likely to require surgical intervention down the line when compared to those that simply received the approved crossover treatment. In a statement, Dr. Mo Bidair, an investigator on the fexapotide clinical trials, had the following to say:
“These exciting results from this long-term prospective analysis confirm what I and other researchers have consistently seen in the clinic – that it is obvious that fexapotide greatly helps patients in terms of symptomatic benefit for their BPH; and with these results, the clinical benefit also results in much less need for surgical intervention over the long-term. I believe these clinical results, combined with previously reported incidence and progression of prostate cancer in this patient population are truly important. Furthermore, the extreme safety of this new drug and the lack of sexual side effects are remarkably helpful for patients…”
The above statement was followed up by Dr. Paul Averback, CEO at NYMX. Here’s what he had to say:
“These prospective study results in blinded placebo crossover patients clearly demonstrate that fexapotide reduces the long-term need for surgery by 82-95% compared to approved conventional BPH treatments… Fexapotide shows significant efficacy against prostate cancer as a therapeutic, and in addition has been shown to reduce the risk of prostate cancer when fexapotide is used to treat BPH. This is in stark contrast to some conventional BPH treatments in routine clinical use today which on the other hand increase prostate cancer risk, and which many have other well-known undesirable side effects…”
How The Stock Reacted To The News
The news that was released by Nymox Pharma proved to be overwhelmingly positive. After all, their lead candidate in the treatment of BPH and prostate cancer is moving one step closer to approval, and things are looking promising. As a result, the stock soared in the market yesterday, gaining around 83% on the trading session. Today, we’re seeing a continuation of NYMX gains. Currently (12:33), the stock is trading at $4.99 per share after a gain of $0.54 per share (12.13%) thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from NYMX. With fexapotide, the company has created a treatment with efficacy and safety ratings that far surpass any approved treatment for BPH. In my opinion, that’s incredible. At the end of the day, this treatment has the potential to be the goose that lays the golden eggs for NYMX, and I’m excited to see what happens ahead.
Don’t waste your time! Click here to find winning trades in minutes!
What Do You Think?
Where do you think NYMX is headed moving forward? Join the discussion at TalkTRENDZ!
[Image Courtesy of Wikimedia]