The Shareholders Foundation announces that an investor, who purchased shares of Nymox Pharmaceutical Corporation (NASDAQ:NYMX), filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Nymox Pharmaceutical Corporation in connection with certain allegedly false and misleading statements made between January 31, 2011 and November 2, 2014.
Investors who purchased a significant amount of shares of Nymox Pharmaceutical Corporation (NASDAQ:NYMX) between January 31, 2011 and November 2, 2014, and / or those who purchased any NASDAQ:NYMX shares prior to January 2011 and continue to hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: January 26, 2015. NASDAQ:NYMX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Nymox Pharmaceutical Corporation (NASDAQ:NYMX) common shares between January 31, 2011 and November 2, 2014, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that Nymox Pharmaceutical and Paul Averback, the president, director and chairman of the Company, failed to disclose material information affecting the Phase 3 clinical trials for Nymox Pharmaceutical’s proprietary drug NX-1207 for the treatment of benign prostatic hyperplasia (“BPH”).
The plaintiff says that NX-1207 showed positive results for the treatment of BPH in Phase 1 and Phase 2 clinical trials in the U.S and that Nymox Pharmaceutical regularly provided positive updates on the Phase 3 clinical trials.
However, on November 2, 2014, Nymox Pharmaceutical Corporation announced that the Company’s two Phase 3 U.S. studies of NX-1207 for the treatment of BPH, NX02-0017 and NX02-0018, failed to meet their primary efficacy endpoints. Shares of Nymox Pharmaceutical Corporation (NASDAQ:NYMX) dropped from $5.14 per share on October 31, 2014, to as low as $0.59 per share on November 3, 2014 and continued to decline to as low as $0.45 per share on November 14, 2014.
On December 9, 2014, NASDAQ:NYMX shares closed at $0.46 per share.
Those who purchased shares of Nymox Pharmaceutical Corporation have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com