Nymox Pharmaceutical Corporation (NASDAQ:NYMX) announced on Monday that its phase 3 studies of fexapotide triflutate for BPH, NX02-0017, and NX02-0018, have successfully attained the targeted primary endpoint of long-term symptomatic, statistically-significant benefit, delivering better results than the placebo group. Fexapotide delivered an impressive safety profile, showing no short or long term toxicity. Moreover, the two studies revealed no molecular side effects relating to the drug. With this success, the company now has a solid basis for seeking approvals from authorities for fexapotide triflutate in varying territories and jurisdictions. After the news, the Street reacted positively, sending the stock up by just under 100% on Monday. The success is a turn of fortunes for Nymox Pharmaceutical Corporation, which nosedived late last year after reports revealed that its late stage tests on fexapotide triflutate, which is its drug for treating enlarged prostates, failed. The new development is good news for the company, considering that the research has been ongoing for the past three-and-a-half years and has taken a number of developments into account, delivering positive results. These results include fewer benign prostatic hyperplasia (BPH) surgeries, and long term improvement in BPH symptoms.
The Canada-based pharmaceutical company has gained 535% year-to-date, including Monday’s trading. While this is a great improvement so far, it still has a long way to go to reach the $5.15 per share figure at which it slumped from when it released reports of its failed studies of fexapotide triflutate in November of last year. Nymox Pharmaceutical Corporation (NASDAQ:NYMX) posted earnings per share of $0.04 for the quarterly period ended March 31, 2015, showing an improvement over the same quarter last year when it reported a loss per share of $0.07.
In terms of the smart money tracked by Insider Monkey, there wasn’t a lot of interest in Nymox during the first quarter of the year. Only two funds in our database had positions in the company, unchanged from the end of the fourth quarter of 2014. Their combined investment totaled just $28,000.
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At Insider Monkey, we also track transactions made by company insiders in their company’s stocks, to gauge their level of belief in their firm’s development. In the case of Nymox, there has been no recorded insider activity this year.