Nymox Pharma (NASDAQ: NYMX)
Nymox Pharma is having an incredibly strong day in the market today, and for good reason. The company announced data from 7-year prospective studies. The data was overwhelmingly positive. Today, we’ll talk about the data that was 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!
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NYMX Releases Strong Data
As mentioned above, Nymox Pharma is having an incredibly strong trading session today. Earlier this morning, the company released the results from multiple 7-year prospective studies. The studies included the treatment of 995 US men being treated with fexapotide. Fexapotide is a treatment designed to reduce chances of prostate cancer.
The study showed that men that take fexapotide are far less likely to develop prostate cancer. The men in the study received the treatment for enlarged prostate symptoms. The men were followed for up to 7 years. In normal cases, the population in the study would have had between a 20% and 25% chance of developing prostate cancer. However, according to the data released by NYMX, only 1.3% of subjects who were given fexapotide developed prostate cancer. Following the overwhelmingly positive news, Dr. Ronald Tutrone, a principal investigator in the NYMX Fexapotide Prostate Cancer and BPH studies, had he 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…”
How The Market Reacted To The News
As investors, we know that the news moves the market. Any time there is positive news released with regard to a publicly-traded company, we can expect to see gains in the value of the stock associated with that company. The news that was released with regard to Nymox Pharma today was overwhelmingly positive. So naturally, we’re seeing an overwhelmingly strong reaction in the market today. Currently (11:03), the stock is trading at $2.99 per share after a gain of $0.66 per share, or 28.33%, thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an incredibly bullish opinion of what we can expect to see from NYMX. The truth is that, through their studies, they have come up with a way for high risk men to avoid prostate cancer. This is nothing short of amazing.
At this point, NYMX has a strong list of products, a great team, and, most importantly, a willingness to push the company to the next level. All in all, things seem to be headed in the right direction for Nymox Pharma and its stock.
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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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