Nymox Reports First Quarter 2011 Financial Results

/ Source: GlobeNewswire

HASBROUCK HEIGHTS, N.J., May 13, 2011 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (Nasdaq:NYMX) announced today its financial results for the first quarter of 2011, prepared in accordance with International Financial Reporting Standards. Nymox reported a net loss of $4,431,091, or $0.14 per share for the quarter ending March 31, 2011, compared to $1,183,352, or $0.04 per share for same period in 2010. Net losses include stock-based compensation charges of $3,583,258 in 2011 and $109,022 in 2010. The increase in net losses is attributable to higher stock-based compensation charges compared to 2010. Revenues from sales ($110,615) and licensing ($654,400) totaled $765,015 for the first quarter of 2011, compared to revenues from sales of $246,861 for the same period in 2010. The weighted average number of common shares at March 31, 2011 was 32,578,523, compared to 31,473,825 at March 31, 2010.

Nymox Pharmaceutical Corporation is a biotechnology company engaged in the research and development of therapeutics and diagnostics, with a particular emphasis on products targeted for the unmet needs of the aging population. The Company's new drug for benign prostatic hyperplasia (BPH) is in Phase 3 development. Currently Nymox has three products on the market, and a healthy pipeline of drug and diagnostic products. The Company also has several hundred patents and patent applications. Nymox has a number of drugs in development for other indications such as E. coli infection, Alzheimer's disease, oncology, and infectious disease. The Company offers NicAlertTM and TobacAlertTM tests for measuring tobacco product exposure, and AlzheimAlertTM, a test to aid in the diagnosis of Alzheimer's disease.

More information about Nymox is available at , email: info@nymox.com, or 800-936-9669.

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.

CONTACT: Roy Wolvin Nymox Pharmaceutical Corporation 1-800-93NYMOX www.nymox.com