HASBROUCK HEIGHTS, N.J., Nov. 14, 2011 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the third quarter of 2011, prepared in accordance with International Financial Reporting Standards. Nymox reported a net loss of $1,614,041, or $0.05 per share for the quarter and $7,993,264, or $0.24 per share for the nine months ending September 30, 2011, compared to $1,649,061, or $0.05 per share for the quarter and $4,478,999 or $0.14 per share for the nine months ending September 30, 2010. Net losses include stock-based compensation charges of $3,943,338 in the nine month period ended September 30, 2011 and $406,542 in the comparative period in 2010. The increase in net losses is attributable primarily to higher stock-based compensation charges compared to 2010.
Revenues from sales amounted to $150,312 for the quarter and $373,009 for the nine months ending September 30, 2011, compared to $26,896 and $378,307 for the same periods in 2010. Additionally, for the three and nine months ended September 30, 2011, amounts of $654,400 and $1,963,200 respectively were recognized as revenue relating to the upfront payment received from Recordati in December 2010. The weighted average number of common shares at September 30, 2011 was 32,636,771, compared to 31,768,510 at September 30, 2010.
Nymox Pharmaceutical Corporation is a biotechnology company 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. 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. Nymox has a number of drugs in development for other indications such as E. coli infection, Alzheimer's disease, oncology, and infectious disease. The Company offers NicAlertTM and TobacAlertTM tests for measuring tobacco product exposure, and AlzheimAlertTM, a test to aid in the diagnosis of Alzheimer's disease.
More information about Nymox is available at www.nymox.com, email: info@nymox.com, or 800-936-9669.
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.