Nymox Reports Significantly Improved Second Quarter Financial Results.Business Editors, Health/Medical Writers MAYWOOD, N.J.--(BW HealthWire)--July 31, 2001 Nymox Pharmaceutical Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NYMX NYMX New York Mercantile Exchange ) announced today its second quarter financial results. The Company's sales revenue more than doubled, increasing by 155% from the first quarter 2001. This sales revenue represents a 344% increase over second quarter 2000 sales revenue. The Company lost $0.03 per share in the second quarter (sales of $156,468), compared to a loss of $0.06 in second quarter 2000, an improvement of 50%. Paul Averback MD, DABP DABP Diplomate of the American Board of Pediatrics DABP Diplomate of the American Board of Pathology DABP Diplomate of the American Board of Periodontolgy DABP Database of Antibacterial Peptides , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nymox, said: "The current sales represent only a small fraction of our product potential. We are making our milestones. The sales represent an increase of 358% in only two quarters. The burn rate is extremely low by biotech drug industry standards, considering the number of products and advanced projects in the Nymox pipeline. "We are making significant progress with 1) more users, payors and reimbursement; 2) the pharma and contract research clinical trial market; and 3) ongoing negotiations with potential large global marketing partners. Nymox has several proprietary drug projects with significant short and long term licensing revenue potential." Nymox has several major proprietary drug development programs for Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. 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 potential therapeutics 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 im·pli·cate tr.v. im·pli·cat·ed, im·pli·cat·ing, im·pli·cates 1. To involve or connect intimately or incriminatingly: evidence that implicates others in the plot. 2. in the Alzheimer's disease process. Nymox also offers AlzheimAlert(TM), a painless, accurate urine test which is 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 Maywood is a Borough in Bergen County, New Jersey, United States. As of the United States 2000 Census, the borough population was 9,523. Maywood was incorporated as a borough on June 29, 1894, from portions of Midland Township, based on the results of a referendum held that . Nymox has several antibacterials in development, including potential treatments for E. coli 0157 food contamination and for urinary tract, staph staph n. Staphylococcus. staph adj. and strep infections. The Company's R&D pharmaceutical pipeline also includes candidate drugs for other indications in development. Nymox's second proprietary marketed 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. More information is available at http://www.nymox.com. This press release contains certain "forward-looking statements" as defined in the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. |
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