Nymox Announces New $15 Million Equity Financing Commitment
HASBROUCK HEIGHTS, N.J., Dec. 22, 2011 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (NYMX) is pleased to announce that the Company has secured commitment for $15 million in equity financing from institutional investors. The new funding will be used for general corporate purposes including the Company's current Phase 3 U.S. trials for NX-1207, Nymox's late stage drug in development for benign prostatic hyperplasia (BPH). The financing gives the Company the right to place common stock to the investors at a 3% discount to the market price of the Company's stock. There are no warrants, price resets, and no restrictions on other corporate financing. The timing and amount of each placement is in the sole discretion of the Company.
This press release contains certain "forward-looking statements" as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Development of drug products involves substantial risks and actual results may differ materially from expectations. Such factors are detailed from time to time in Nymox's filings with the United States Securities and Exchange Commission and other regulatory authorities.
CONTACT: Roy Wolvin Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.comSource: Nymox Pharmaceutical Corporation 2011 GlobeNewswire, Inc.