IRVINE, Calif., July 05, 2023 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (NASDAQ: NYMX) (the “Company”) today received a Nasdaq Hearing Delist Decision, noting that Nymox has not regained the required $1.00 share price within the 6-month extension period granted by Nasdaq, and hence the Company's shares will be suspended from trading on NASDAQ at the open of business on July 7, 2023. Nymox shares will be moved to the OTC market. The mechanics of trading the stock remain the same, as do the Company's business fundamentals.

Nymox is in the process of submitting applications for the approval to market the Company's first in class drug NYMOZARFEX to treat the symptoms of benign prostatic hyperplasia (BPH). BPH is one of the most common conditions affecting middle aged and elderly men throughout the world. BPH can be devastating to men who suffer from the condition. Current treatments are associated with numerous intolerable side effects including sexual problems, such as impotence and retrograde ejaculation. Medications for BPH have been associated with prostate cancer, depression, gynecomastia and other adverse effects. The majority of men stop taking the available medications due to these and other problems. Surgery is often needed for advanced BPH. Surgery is usually effective but it is not without risks, the discomforts of surgery, and BPH surgery has side effects such as permanent retrograde ejaculation for many patients.

Nymozarfex was submitted to the Danish authorities in December 2022 and the application was accepted for review in early 2023 and is currently undergoing review. The Company announced that another submission was expected to be submitted for approval in another jurisdiction in the second quarter of 2023. It is expected to be submitted in the near future and the Company will provide the appropriate update when that occurs.

Dr. Paul Averback, CEO of Nymox said, "This is a key time for the Company, with more than one important marketing application being submitted. We are grateful to our loyal shareholders for their patience and we wish to assure our supporters that we are doing our best to deliver important milestones in our business development, in as reasonable a time horizon as possible. It took a long time to get to this point but we believe enhanced fundamental value has been developed -- and we intend to continue to do everything in our power to deliver the goods to the public and to our stakeholders."

About NYMOZARFEX (TM) (Fexapotide)

NYMOZARFEX (TM) is given in an in-office procedure that is administered in a few minutes without need of anesthesia or analgesia. The drug has been tested in clinical trials involving overall more than 1750 BPH patients with over 1600 injections administered including over 1200 Fexapotide administrations. Fexapotide has led to significant long-term improvements and has shown an excellent safety profile without the side effects normally associated with existing BPH treatments.