HASBROUCK HEIGHTS, N.J., March 15, 2013 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the year ended December 31, 2012 prepared in accordance with International Financial Reporting Standards. Nymox reported a net loss of $7,627,589, or $0.23 per share for the year ended December 31, 2012, compared to $9,652,389, or $0.30 per share for same period in 2011. The decrease of the net loss for the year is attributable primarily to a reduction of stock-based compensation charges which were $1,962,085 in 2012 compared to $4,005,404 in 2011. The weighted average number of common shares outstanding for the year ended December 31, 2012 was 33,176,185, compared to 32,711,431 for the same period in 2011.
Revenues from sales amounted to $454,987 for the year ended December 31, 2012, compared to $496,215 for the same period in 2011. A reduction in orders by one client for NicAlert™/TobacAlert™ explains the decrease in sales for 2012 compared to 2011. Additionally, an amount of $2,617,600 was recognized as revenue in both 2012 and 2011 relating to the upfront payment received from Nymox's licensing agreement with Recordati in December 2010.
Nymox Pharmaceutical Corporation is engaged in the research and development of therapeutics and diagnostics, with a particular emphasis on products targeted for the unmet needs of the aging population. The Company's new drug for benign prostatic hyperplasia (BPH) is in Phase 3 development in the U.S. and Europe. The Company's candidate drug for prostate cancer is currently in Phase 2 testing in the U.S. Currently Nymox has three products on the market, and a healthy pipeline of drug and diagnostic products. The Company also 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: Roy Wolvin Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.comSource:Nymox Pharmaceutical Corporation