Nymox Reports Significant Growth and Improved Third Quarter Financial Results.

Business Editors & Health/Medical Writers

MAYWOOD, N.J.--(BW HealthWire)--Nov. 7, 2001

Nymox Pharmaceutical Corporation (NASDAQ: NYMX) announced today its third quarter financial results.

The Company's sales revenues were $398,295 for the first nine months of 2001, compared to $123,584 for the same period in 2000, an increase of 222%. The net loss for the first nine months of 2001 was $2,053,707, or $0.09 per share, versus a net loss of $3,014,470, or $0.15 per share, in the same period one year ago, a decrease of 40%. The weighted average number of common shares outstanding for the third quarter of 2001 were 21,744,831, compared to 20,732,514 for the comparable period in 2000.

Paul Averback MD, DABP, CEO of Nymox, said: "The Company continues to make progress on many fronts. Our products are gaining in recognition. We have several major proprietary drug projects with significant short and long-term licensing revenue potential. These projects are steadily growing in value as milestones are made."

"Our revenue increased significantly for the third straight quarter. Our new marketing initiatives with Nymox products announced during the quarter, such as our agreements with Cybear-Andrx, and HealthScreen America, will begin and will further enhance the value of our Company. We are also optimistic about ongoing negotiations with potential large global marketing partners. Nymox has no debt and a burn rate which is extremely low by industry standards, especially considering the number of products and advanced projects in our pipeline."

Nymox has several major proprietary drug development programs for Alzheimer's disease and other indications. In the area of Alzheimer's disease, Nymox has made a number of key discoveries about the link between spherons and Alzheimer's disease which have led to the development of spheron-based therapeutic candidates for this fatal illness. Another Nymox major drug discovery platform targets neural thread protein, the brain protein detected by Nymox's AlzheimAlert(TM) test and implicated in the Alzheimer's disease process. Nymox also offers AlzheimAlert(TM), a painless, accurate urine test which is recognized as an aid for physicians in the diagnosis of Alzheimer's disease, at a cost of $295 through its CLIA-certified Clinical Reference Laboratory in Maywood, New Jersey. Nymox has several antibacterials in development, including potential treatments for E. coli 0157 food contamination and for urinary tract, staph and strep infections. The Company's R&D pharmaceutical pipeline also includes candidate drugs for other indications in development. Nymox's second proprietary marketed diagnostic product, NicAlert(TM), is available in the U.S. and Japan. NicAlert(TM) is an inexpensive, simple-to-use test strip that uses urine or saliva to determine whether a person is using tobacco products. Please visit http://www.nymox.com for more information.

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 Nymox's filings with the United States Securities and Exchange Commission and other regulatory authorities.