Nymox Announces $16.25 Million Equity Financing With Qualified Long-Term Investors

HASBROUCK HEIGHTS, N.J., April 12, 2018 (GLOBE NEWSWIRE) — Nymox Pharmaceutical Corporation (NASDAQ:) is pleased to announce today that the Company has successfully secured $16.25 million in new equity capital with several professional high net worth investors. A Company Director and a Company Officer also participated in the financing with $2 million and $0.15 million respectively. The Company believes that with the new funds, it will be adequately financed well beyond expected outcome timings for its regulatory submissions in Europe and the U.S. for its novel treatment, Fexapotide Triflutate (FT) for the treatment of the symptoms of benign prostatic hyperplasia (BPH, prostate enlargement).

The Company will receive net proceeds of $16.25 million from the offering with an overall average price of 22% discount to the closing price with no fees involved as the placement was managed directly by the Company. The Company intends to use the proceeds from the financing for working capital and other general corporate purposes. The lead investor, who invested $12 million, will also receive 2.5 million warrants at $8.00 per share.

Company founder and CEO, Dr. Paul Averback, commented: “We are extremely pleased to close on this financing at attractive terms to all parties involved. We now have the financial resources needed to move forward with our operational plan expeditiously and focus exclusively on what is really crucial to the Company’s future: to work with our regulatory consultants and authorities to potentially obtain regulatory clearance for FT in due course. We very much look forward to update our shareholders on our regulatory progress whenever we have appropriate information to report upon.”

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Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of Fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for Fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox‘s regulatory filings, Nymox‘s substantial dependence on Fexapotide, Nymox‘s commercialization plans and efforts and other matters that could affect the availability or commercial potential of Fexapotide. Nymox undertakes no obligation to update or revise any forward looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox‘s current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2017, and its Quarterly Reports.

For Further Information :
Erik Danielsen
Nymox Pharmaceutical Corporation
1-800-93NYMOX

 

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