Nymox Pharmaceutical Corporation (NASDAQ: NYMX)
Nymox Pharmaceutical Corporation is having an incredible day in the market today, and for good reason. The company announced successful results from a key Phase 3 clinical trial. Today, we’ll talk about the results, how the stock reacted to the news, and what we can expect to see from NYMX moving forward.
NYMX Gains Big On Successful Phase 3 Trial
As mentioned above, Nymox Pharmaceutical Corporation is having a strong day today after announcing successful study results. The results came from the long-term blinded placebo crossover group from the U.S. Phase 3 trials surrounding fexapotide. This is incredibly positive news!
Fexapotide was designed to treat late stage development for enlarged prostate and for localized prostate cancer. The lead candidate has continuously shown promising results. In the announcement, NYMX said that patients who received crossover fexapotide treatments in the trial saw a reduction of 82-95% in instances where patients required surgery after the treatment when compared to those who did not receive fexapotide, but instead received crossover conventional approved BPH treatments. In a statement, Dr. Mo Bidair, Medical Director of San Diego Clinical Trials and an investigator in the fexapotide trials had the following to say…
“These exciting results from this long-term prospective analysis will confirm what I and other researchers have consistently seen in the clinic – that it is obvious that fexapotide greatly helps patients in terms of symptomatic benefit for their BPH; and with these results, the clinical benefit also results in much less need for surgical intervention over the long-term. I believe these clinical results, combined with previously reported incidence and progression of prostate cancer in this patient population are truly important. Furthermore, the extreme safety of this new drug and the lack of sexual side effects are remarkably helpful for patients…”
The above statement was followed up by Dr. Paul Averback MD, CEO at NYMX. Here’s what he had to say…
“These prospective study results in blinded placebo crossover patients clearly demonstrate that fexapotide reduces the long-term need for surgery by 82-95% compared to approved conventional BPH treatments… Fexapotide shows significant efficacy against prostate cancer as a therapeutic, and in addition has been shown to reduce the risk of prostate cancer when fexapotide is used to treat BPH. This is in stark contrast to some conventional BPH treatments in routine clinical use today whichh on the other hand increase prostate cancer risk, and which have many other well known undesirable side effects…”
How The Stock Reacted To The News
One of the first things that we learn when we start working in the market is that it’s important to watch the news. After all, the news causes the moves. Any time positive news is released with regard to a stock, we can expect to see gains. Negative news will generally lead to declines. The news released with regard to Nymox Pharmaceutical Corporation today was overwhelmingly positive. After all, the results of fexapotide have been increasingly impressive, and just what is needed to gain FDA approval. As a result, we’re seeing strong gains in the value of the stock today. Currently (2:18), the stock is trading at $3.33 per share after a gain of $0.90 per share or 37.04% 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. With the positive release today, fexapotide is one step closer to FDA approval in multiple indications. With an incredibly strong safety and efficacy profile, I’m expecting that the treatment will be approved with flying colors, and likely become the number one go to treatment for BPH and a strong treatment option in prostate cancer. All in all, fexapotide could be the goose that lays the golden eggs for NYMX and its investors.
What Do You Think?
Where do you think NYMX is headed moving forward? Join the discussion in the comments below!