Nymox Pharmaceutical Corp. (NYMX) stock saw a huge gain during regular trading on Friday. The stock rose on no apparent news from the company. Consequently, the stock fell under corrections in the after hours.
In regular trading, NYMX stock gained 36.19% at 6.96 million shares. After closing the session at $1.30, the stock fell down to reach $1.21 in the after hours. Hence, the stock lost 6.92% at an after-hours volume of 161.57K shares.
Currently, NYMX has a market capitalization of $110.23 million with its 84.8 million shares outstanding in the market.
What is happening?
On December 31, the stock reached a high of $1.57 after almost 35 days, at 3,624% of its average volume. While the stock did see huge gains, there was no news from the company behind the move. Moreover, the bullish momentum of the stock could not last long as it fell under corrections in the after-hours on Friday.
Furthermore, NYMX stock has seen an increase of 19.27% in the past five days while it lost 1.52% last month. Currently, the stock stands at a loss of 47.58% for the year 2021.
NYMX Recent Updates
On December 13, the company announced the completion of all the requirements for its upcoming regulatory submission. The company has planned to proceed with the regulatory submission for Fexapotide Triflutate (FT) for treating BPH (Benign prostatic hyperplasia).
Previously, the company had faced some delays in the process, on which the CEO of NYMX, Paul Averback asked for understanding. Moreover, based on the delays, the company did not announce a formal submission date but promised to report developments.
According to NYMX’s long-term clinical trials of FT, the patients’ prostate cancer incidents decreased exponentially after the treatment. Moreover, the trials also reported very low acute urinary retention incidents after four years. Hence, resulting in a much lower need for invasive surgery.
In conclusion, the trials suggested a high clinical benefit of FT for the patients who showed no improvements on oral medications or were intolerant to it. The Ft treatment involves office administration of Fexapotide through injection with ultrasound localization. Moreover, the treatment is brief, well-tolerated, and requires no anesthesia or catheter.
Other Developments
In the month of November, the company presented at the Torrey Hills Capital Emerging Growth Conference. Moreover, the two-day conference took place in San Diego, California.
