Nymox Announces $8,000,000 Private Placement
April 28 2021 - 8:30AM
Nymox Pharmaceutical Corporation (NASDAQ: NYMX) (the “Company”)
today announced it has entered into a definitive agreement with
institutional investors in a private placement of 3,669,724 shares
of common stock and warrants to purchase 1,834,862 shares of common
stock at a combined purchase price of $2.18 per share for gross
proceeds of approximately $8,000,000 before deducting fees and
other estimated offering expenses. The warrants will have an
exercise price of $2.50 per share, will be immediately exercisable
and will expire five years from the date of issuance.
The Company expects to use the net proceeds from
the private placement for working capital and other general
corporate purposes. The private placement is expected to close on
or about April 30, 2021, subject to the satisfaction of customary
closing conditions.
A.G.P./Alliance Global Partners is acting as
sole placement agent for the private placement.
The private placement is being made pursuant to
the exemption from securities registration afforded by Section
4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 of
Regulation D as promulgated by the United States Securities and
Exchange Commission (the “SEC”) and the securities being sold in
the private placement may not be offered or sold in the United
States absent registration with the SEC or an applicable exemption
from such registration requirements. The Company has agreed to file
a registration statement on Form F-3 with the SEC covering the
resale of the shares of common stock, as well as the shares of
common stock issuable upon exercise of the warrants, issued in the
private placement.
This release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Nymox Pharmaceutical Corporation
Nymox Pharmaceutical Corporation specializes in
the research and development of therapeutics and diagnostics, with
a particular emphasis on products targeted for the unmet needs of
the rapidly aging male population in developed economies. The
Company’s lead drug candidate for benign prostatic hyperplasia
(BPH), Fexapotide Triflutate (FT), has completed Phase 3
development in more than 70 clinical centers in the United States,
involving more than 1700 patients during the entire clinical
development program. Currently, the Company will soon be filing for
approval in major economies around the world, including the United
States and Europe.
For more information please contact
info@nymox.com or 800-936-9669.
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, 2020, and its Quarterly Reports.
For Further Information
Contact: Erik Danielsen Nymox Pharmaceutical Corporation
1-800-93NYMOX www.nymox.com
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