Nymox Pharmaceutical Corporation
) recently announced that it has completed enrollment of benign
prostatic hyperplasia (BPH) patients in a phase III study
(NX02-0020) of NX-1207 in the US. The study enrolled patients who
were a part of previously conducted NX-1207 studies. The efficacy
results from the study are expected to be reported by the end of
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A few days ago, the company had received a positive feedback from
the Safety Monitoring Committee meeting which reported that there
was no significant safety concerns associated with NX-1207.
The use of NX-1207 was found to be safer than currently approved
BPH drugs which are associated with sexual or blood pressure
related side effects. The injectable NX-1207 is easy to administer
and does not require the use of any type of sedation measures or
NX-1207 is in phase III development both in the US and the Europe.
In Europe, the company has a licensing agreement with Recordati
S.p.A. Recordati is sponsoring a recently initiated phase III study
BPH is commonly diagnosed in middle aged and older men. According
to the company, approximately 50% of middle aged men exhibit signs
of prostatic hyperplasia.
We note that the BPH market is pretty crowded with players like
) Proscar (finasteride),
) Avodart (dutasteride) and Jalyn (dutasteride + tamsulosin),
) Uroxatral (alfuzosin HCl) and
) Rapaflo (silodosin) among others.
We currently have a Neutral recommendation on Nymox. The stock
carries a Zacks #3 Rank (Hold rating) in the short run.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.