Nymox Pharma (NASDAQ: NYMX)
While the global market is in the midst of a tailspin, there are a few stocks that are doing incredibly well. One of them happens to be Nymox Pharma. Today, the company is continuing the upward movement that we’ve seen since last Monday. Considering the reason for the gains, we’re likely to see the trend continue. Today, we’ll talk about why the stock is headed upward, what we’re seeing in the market today, and what we can expect to see from NYMX moving forward. So, let’s get right to it…
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Here’s Why NYMX Is Gaining!
The reason Nymox Pharma is having such a strong go in the market at the moment is relatively simple. Last week, the company released statistically significant data from recent studies. The studies have been going on for 7 years and revolve around fexapotide. The treatment is designed to reduce chances of prostate cancer among the population of highly vulnerable males.
The study from which the data was released involved 995 men from the United States. The men in the study were dealing with BPH symptoms. According to known clinical data, between 20% and 25% of men with BPH symptoms eventually develop prostate cancer. NYMX aimed to change this.
The data from the study showed that men taking fexapotide have a much smaller chance of developing prostate cancer. Not only did the treatment show positive results in BPH symptoms, it drastically reduced the chances of developing prostate cancer. In fact, only 1.3% of men treated with fexapotide during the study developed the life-threatening condition. In a statement, Dr. Ronald Tutrone, a principal investigator in the NYMX study of fexapotide had the following to offer:
“These results are astonishingly good. Other drug treatments and controls tested in similar studies have been associated with a prostate cancer incidence 10 times higher than the results reported today by Nymox for fexapotide. This is truly good news. The data strongly indicate that in addition to benefit for BPH symptoms, fexapotide will also help to prevent cancer in these patients…”
What We’re Seeing In The Market
NYMX has been having an incredibly good time in the market as of late. Since the release of the data surrounding fexapotide, we’ve seen strong gains in the value of the stock. Those gains are continuing today. Currently (1:46), the stock is trading at $3.46 per share after a gain of $0.30 per share, or 9.49%, 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. While we may see declines in the short run as a result of Brexit concerns, I don’t think the declines will last very long. The truth is that Nymox has been working on fexapotide for some time now. While they’ve shown statistically significant results in BPH symptoms in the past, this is the first time any treatment has shown to be so strong with regard to the prevention of prostate cancer. As a result, I’m expecting to see the treatment fly off the shelves in the long run. All in all, things are looking great for NYMX.
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What Do You Think?
Where do you think NYMX is headed moving forward and why? Join the discussion at TalkTRENDZ from CNA Finance!
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