Nymox Pharmaceutical Corporation (NYMX) and 2 Banks Witness Notable Insider Buying

Biopharmaceutical Company Nymox Has Seen a Board Member Consistently Buy Shares Lately

Let’s wrap up our discussion by looking into the insider buying at Nymox Pharmaceutical Corporation (NASDAQ:NYMX), which has seen one Board member buy regularly over the past several months. Director James G. Robinson purchased 39,500 shares last week at prices that ranged from $2.19 to $2.53 per share. Mr. Robinson, who was appointed to the company’s Board in July 2015, currently owns 2.76 million shares directly, as well as holding an additional indirect ownership stake of 45,050 shares.

Nymox Pharmaceutical is a biopharmaceutical company that focuses on the development of a drug candidate, called NX-1207, for the treatment of benign prostatic hyperplasia or BPH and the treatment of low-grade localized prostate cancer. Moreover, the company also markets NicAlert and TobacAlert, inexpensive tests that use urine or saliva to detect whether an individual uses tobacco products (NicAlert) or has been recently exposed to second-hand smoke (TobacAlert). Going back to the NX-1207 drug candidate, the company announced promising initial clinical results from a Phase 3 development program in BPH last summer, so the company’s management intends to meet with regulatory authorities across the globe to discuss the possibility of filing for approval. Nonetheless, investors should be aware that the company’s NX-1207 enlarged prostate treatment will face strong competition from existing products should the drug receive approval. It is said that nine drugs have been approved for the treatment of BPH, which include five proprietary drugs and four generics. In early February, Nymox Pharmaceutical raised $2.1 million through a private placement at $2.00 per share with no warrants, with the raised capital being expected to be used for the continuation of the company’s projects.

Shares of Nymox Pharmaceutical have advanced by 135% in the past 52 weeks, but are down by 28% year-to-date. No money managers tracked by Insider Monkey had long positions in Nymox Pharmaceutical Corporation (NASDAQ:NYMX) at the end of December.

Disclosure: None