Nymox plunges as NX1207 fails Ph III endpoints

Canada-based biotech firm Nymox Pharmaceutical (Nasdaq: NYMX) saw its shares decimated in pre-market trading after it revealed that two Phase III studies of NX-1207 for the treatment of benign prostatic hyperplasia (BPH), NX02-0017 and NX02-0018, failed to meet their primary efficacy endpoints.

The stock, already down 15% this year prior to the latest news, tumbled nearly 85% to $5.14. Full results of the trials will be reported at a later date.

Nymox chief executive Paul Averback commented: "The two studies failed to meet the pre-specified efficacy endpoints. Drug safety was acceptable. Drug efficacy reached levels similar to earlier studies but was not statistically significant in comparison to the placebo control due to a higher placebo response than in earlier NX-1207 studies and in other placebo-controlled BPH studies.”