Nymox Announces $1.07 Million Financing
December 18 2014 - 12:00PM
Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today the
closing of U.S. $1.07 million in financing, consisting of a 3 year
term convertible debenture at 6% with conversion at $0.53. The
proceeds will be used as additional funding for the Company's
activities in the next year. Cantone Asset Management LLC of Tintin
Falls NJ served as exclusive agent for the convertible offering.
Nymox CEO Paul Averback said, "These funds bolster Nymox's
balance sheet and together with budgetary adjustments will allow
the Company to more securely continue development activities for
our Phase 3 BPH NX-1207 program and our Phase 2 NX-1207 prostate
cancer program."
The Company's NASDAQ Capital Market requirements are currently
deficient and it has a 6 month period in which to regain
compliance. Market value must be a minimum of $35 million and share
price $1 for a minimum of 10 consecutive days to regain
compliance.
Jack Gemmell and Dr. Roger Guy have resigned from the Board of
Directors. The Company gratefully acknowledges their service.
For more information please contact 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.
Development of drug products involves substantial risks and actual
results may differ materially from expectations. Factors that could
cause actual results or events to differ materially from those
projected in forward-looking statements 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.com
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