HASBROUCK HEIGHTS, N.J., March 31, 2015 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the year ended December 31, 2014 prepared in accordance with International Financial Reporting Standards. Nymox reported a net loss of $4,594,093, or $0.13 per share for the year ended December 31, 2014, compared to $4,908,603, or $0.14 per share for same period in 2013. The decrease of the net loss for the year is attributable primarily to a reduction of $1,696,384 in clinical trial expenditures related to NX-1207 studies offset by an increase of $1,272,588 in stock compensation charges. The weighted average number of common shares outstanding for the year ended December 31, 2014 was 35,253,879, compared to 34,147,666 for the same period in 2013.
Revenues from sales amounted to $331,909 for the year ended December 31, 2014, compared to $741,410 for the same period in 2013. The decrease in 2014 compared to the same period in 2013 is due to the non-recurrence of the sale of goods of $333,249 in 2013 under our licensing agreement with Recordati as well as a decrease in sales of NicAlert™/TobacAlert™. Additionally, an amount of $2,617,600 was recognized as revenue in both 2014 and 2013 relating to the upfront payment received pursuant to our licensing agreement with Recordati in December 2010.
Nymox Pharmaceutical Corporation is engaged in the research and development of therapeutics and diagnostics, with an emphasis on products for the unmet needs of the aging population. The Corporation is developing its novel proprietary drug candidate, NX-1207, for the treatment of benign prostatic hyperplasia (BPH) and for the treatment of low-grade localized prostate cancer. The Company has an extensive patent portfolio covering its investigational drugs as well as other therapeutic and diagnostic technologies.
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: For Further Information Contact: Paul Averback Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.comSource:Nymox Pharmaceutical Corporation