Nymox Anticipates Significant Improvement in 1999 Second Quarter Burn Rate and Operating Results; Main Projects On Target.

KENSINGTON, Md.--(BUSINESS WIRE)--June 11, 1999--

Nymox Pharmaceutical Corporation (NASDAQ National Market: NYMX; Montreal Exchange: NMX) is pleased to report that, based on interim unaudited information to date, the Company expects to report greatly improved 1999 second quarter operating results. The Company is projecting a U.S. $0.02 loss per share for the 1999 second quarter, as compared to a U.S. $0.06 loss per share in the second quarter of 1998. Nymox reported a U.S $0.06 loss per share loss in the first quarter of 1999 and a U.S. $0.24 per share loss in the 1998 year.

Paul Averback, CEO of Nymox, commented, "On a cash flow basis, our interim unaudited figures show a 65% reduction in burn rate compared to the first quarter of 1999. At the same time, we continue to make progress in our main scientific projects. Nymox is in an excellent financial position to move forward and our goal of becoming cash flow positive in 1999 is on target."

The Company also announced two important new scientific appointments. Dr. Sandra Tanner has joined Nymox as Senior Scientist. Dr. Tanner received her Ph.D. in Biological Sciences and has done advanced neuroscientific work with brain proteins at the National Institute of Health in Bethesda for the last six years. Dr. Jay Murthy is now in charge of Nymox's U.S. Clinical Reference Laboratory. Dr. Murthy earned his Ph.D. in neurochemistry. Dr. Murthy is certified by the American Board of Clinical Chemistry, the American Society of Clinical Pathologists, the National Registry and is a Fellow of the National Academy of Clinical Biochemistry and the American Association of Clinical Chemistry, and has been associated with the George Washington University School of Medicine and the Children's National Medical Center in Washington for the past decade. Dr. Murthy has numerous important publications in top peer-reviewed journals in clinical chemistry and clinical biochemistry.

The Company also announced that 710,000 options belonging to one ex-employee expired yesterday without being duly exercised and are therefore cancelled.

Nymox Pharmaceutical Corporation is a biopharmaceutical company with several major projects, including a focus on diagnostics and therapeutics for Alzheimer's disease ("AD"). Nymox has developed and begun to market a unique proprietary urinary test for use in Alzheimer's disease. Nymox has drug candidates for AD targeted at spherons, which are expected to begin human testing in 1999. Nymox is also active in other therapeutic areas, with anti-bacterial drug candidates targeted for urinary tract infections, which will be in Phase I testing in humans in 1999 and with other candidates targeted for food infections.

This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities.