HASBROUCK HEIGHTS, N.J., May 15, 2014 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the first quarter of 2014. Nymox reported a net loss of $2,592,816, or $0.07 per share for the quarter ended March 31, 2014, compared to $1,093,906, or $0.03 per share for the quarter ended March 31, 2013. The increase in net loss is due to stock compensation charges of $1,420,185 in 2014 compared to $26,640 in 2013.
Revenues from sales amounted to $78,164 for the quarter ended March 31, 2014, compared to $184,246 for the same period in 2013. The decrease in the first quarter of 2014 compared to the same period in 2013 is due to a decrease of $33,156 in sales of NicAlert™/TobacAlert™ as well as the non-recurrence of the sale of goods of $72,926 in 2013 under our licensing agreement with Recordati. Additionally, for the three months ended March 31, 2014 and 2013, amounts of $654,400 respectively were recognized as revenue relating to the upfront payment received in December 2010 under the licensing agreement. The weighted average number of common shares at March 31, 2014 was 34,797,302, compared to 33,679,486 at March 31, 2013.
The Annual General Meeting of Shareholders will be held on Thursday, June 19, 2014.
Nymox Pharmaceutical Corporation is engaged in the research and development of therapeutics and diagnostics, with an emphasis on therapeutic products for the unmet needs of the aging population. The Company's investigational new drug for prostate enlargement (benign prostatic hyperplasia or BPH) is in late Phase 3 development in the U.S. and in Europe. The Company's investigational drug for low-grade localized prostate cancer is currently in Phase 2 testing in the U.S. Nymox has a healthy pipeline of drug candidates under development. The Company has several hundred patents and patent applications.
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. 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: Brian Doyle Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.comSource:Nymox Pharmaceutical Corporation