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.