The stock of Nymox Pharmaceutical Corporation (NYMX) had fallen -33.16% to $1.27 on the last check in early trading. Nymox Pharmaceutical (NYMX) stock closed the last session at $1.90, increasing 1.06% or $0.02. Shares of the company fluctuated between $1.84 and $1.95 throughout the day. The number of shares exchanged was 0.04 million, less than the company’s 50-day daily volume of 0.13 million and lower than its Year to date volume of 0.14 million.
In the past 12 months, Nymox Pharmaceutical stock has retreated -28.30%, and in the last week, the stock has moved down -1.55%. For the last six months, the stock has lost a total of -9.09%, and over the last three months, the stock has increased by 77.57%. The stock has returned 46.15% so far this year. NYMX stock lost pre-hours after announcing equity offering.
Nymox Pharmaceutical stock has made what offer?
Nymox Pharmaceutical (NYMX) focuses on pharmaceuticals and diagnostics research and development, with a focus on solutions that address the unmet requirements of the growing aging male population in industrialized nations. Fexapotide Triflutate (FT), NYMX’s principal medication candidate for benign prostatic hyperplasia (BPH), was filed to the FDA in a New Drug Application (NDA) on March 3, 2022.
Nymox Pharmaceutical (NYMX) announced today that it has signed definitive agreements to buy and sell 3,030,304 common shares with institutional and accredited investors.
- NYMX agreed to sell common shares in a registered direct offering at a purchase price of $1.65 per share for gross revenues of approximately $5 million before placement agency fees and costs.
- In a separate private placement, NYMX has agreed to offer unregistered warrants to acquire up to 3,030,304 common shares to the investors.
- The warrants are immediately exercisable at a $2.00 per share exercise price and will expire five (5) years after the effective registration statement covering the shares underlying the warrants is filed.
- The offering is scheduled to close on or around March 22, 2022, pending the fulfillment of normal closing conditions.
- The profits will be used for general company purposes, including working capital, according to NYMX.
- The offering’s sole placement agent is A.G.P./Alliance Global Partners.
NYMX’s drug development efforts
Nymox Pharmaceutical (NYMX) also submitted an NDA to the FDA this month for Fexapotide Triflutate, which it hopes to sell in the United States for the treatment of males with benign prostatic hyperplasia (BPH). In the near future, NYMX plans to file applications in additional important areas, including Europe.