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Nymox Reports 2007 Financial Results
HASBROUCK HEIGHTS, N.J.-(Business Wire)-March 14, 2008 - Nymox Pharmaceutical Corporation (NASDAQ: NYMX) announced today its financial results for the year ended December 31, 2007. Nymox reported a net loss of $5,290,431, or $0.18 per share for the year ended December 31, 2007, compared to $4,893,685, or $0.18 per share for same period in 2006. The increase in net losses for the year is attributable to increased expenditures in research and development of products in the Company's pipeline and to accounting requirements for stock option compensation. Product sales amounted to $412,923 for the year ended December 31, 2007, compared to $437,440 for the same period in 2006. The weighted average number of common shares at the year ended December 31, 2007 was 29,005,342, compared to 27,644,749 at December 31, 2006.
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. 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. The Company is in late stage development of NX-1207, a drug for benign prostatic hyperplasia (BPH). Nymox has a number of drugs in development for E. coli infection, Alzheimer's disease, oncology, and infectious disease. The Company markets NicAlert(TM) and TobacAlert(TM) tests for measuring tobacco product exposure, and AlzheimAlert(TM), 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.
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