Shares of Nymox Pharmaceutical Corp. (NASDAQ: NYMX) saw a solid gain on Monday after the firm announced five-year results from its prostate cancer study. Overall, the results were positive for the NX03-0040 study, and investors sent shares higher.
The study began in 2012 with a highly representative sample of 146 men with the biopsy confirmed diagnosis of T1c prostate cancer, which is the most common type of low-grade localized prostate cancer.
After five years, the study has now shown that high dose Fexapotide single dosage treatment resulted in 80% less surgery or radiotherapy associated with Gleason grade progression and that both doses of Fexapotide were consistently effective.
There were 4.4% patients in the entire Fexapotide group who showed an increase in their Gleason primary pattern grade in the five-year study, compared to controls in which the incidence of grade 4 or higher primary pattern was 23.5%, a reduction of 81.3%.
Paul Averback MD, the CEO of Nymox, commented:
These major new results show the beneficial long-term effect of a single injection of Fexapotide Triflutate. The results are expected to be even better with regimens of additional or multiple treatment administrations if required.
Eight years of other related U.S. long-term Phase 3 BPH studies of Fexapotide have shown reduction in new prostate cancer incidence to 1.2%, compared to previous large BPH studies of earlier drugs where the incidence of prostate cancer is in the 10-20% range. There are therefore 2 different long-term Fexapotide programs which have now each independently shown that Fexapotide has a significant and highly beneficial effect for men with prostate cancer.
Shares of Nymox traded up about 21% to $3.80 on Monday, with a consensus analyst price target of $10.25 and a 52-week range of $2.80 to $5.10.