Nymox Pharma (NASDAQ: NYMX)
Nymox Pharma is having an incredible time in the market today, and for good reason. The company released new study results from Phase 3 clinical trials surrounding their lead candidate. Today, we’ll talk about the results, what we saw from the stock as a result, and what we can expect to see from NYMX moving forward. So, let’s get right to it…
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NYMX Releases Strong Trial Results
As mentioned above, Nymox Pharma is having a strong day in the market after releasing successful study results. The new results came from the long-term repeated injection group from Phase 3 clinical trials surrounding fexapotide. Fexapotide is the company’s leading candidate for the treatment of late stage development for enlarged prostate (BPH) as well as for localized prostate cancer. Previous results surrounding the treatment have been overwhelmingly positive. Now, once again, the company released more positive news.
The goal of the study mentioned above was relatively simple. NYMX hoped to determine the safety and clinical benefit surrounding the treatment in men who were given a second injection of fexapotide for BPH. After being given a placebo or fexapotide, patients were followed for 2 to 6.5 years. The results of the study show that there was long-term statistically significant symptomatic improvement when compared to Phase 3 patients who received the placebo alone. Also, the company said that repeat injection was found to be safe. Following the repeat injection, there were no significant drug related toxicities or side effects found in the body. Along with the release of the news, Dr. Paul Averback MD, CEO at NYMX, had the following to offer:
“These prospective long-term study results in reinjected patients clearly demonstrate that fexapotide leads to clinically meaningful long-term symptomatic improvements in BPH patients with minimal treatment, and without worrisome and bothersome toxicities of conventional BPH treatments such as retrograde ejaculation, and increased cancer risk… Our earlier reported Phase 3 studies have shown that fexapotide reduces the long-term need for surgery by up to 82%-95% compared to approved conventional BPH treatments. Data indicates that fexapotide shows significant efficacy against prostate cancer as a therapeutic, and in addition has been shown in Phase 3 to reduce the risk of prostate cancer when fexapotide is used to treat BPH. This is in comparison to some conventional BPH treatments in routine clinical use today which on the other hand increase prostate cancer risk, and which have these many other well known undesirable side effects…”
How The Stock Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. Of course, the news released today was overwhelmingly positive. So, naturally, the movement in the market has been positive. Currently (10:56), NYMX is trading at $3.85 per share after a gain of $0.60 per share (18.46%).
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What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from Nymox Pharma. At the end of the day, each time the company releases data surrounding fexapotide, the data is overwhelmingly positive. Ultimately, this treatment has proven to be not only safe, but effective in both the treatment of BPH and prostate cancer. All in all, I’m expecting to see great things from the treatment in the future, leading to big gains for NYMX.
What Do You Think?
[Image Courtesy of Wikimedia]