Nymox Announces Dismissal of Delaware Action Against Ascella

Rhea-AI Summary

Nymox has announced the dismissal of its Delaware legal action against Ascella on March 7, 2025. The company stated this decision came after reconsidering its strategy to protect shareholders' interests. CEO Paul Averback indicated this dismissal is a legal step taken after consultation with legal counsel, and mentioned that additional steps are being contemplated, which will be reported at an appropriate time.

Positive

• None.

Negative

• Dismissal of legal action against Ascella may indicate weakness in the company's legal position
• Strategic shift in shareholder protection approach suggests previous strategy was ineffective

IRVINE, Calif., March 11, 2025 (GLOBE NEWSWIRE) -- Nymox announces that it dismissed the Delaware matter pending against Ascella on March 7, 2025. A number of factors caused the company to reconsider its strategy to adequately protect its shareholders.

Nymox CEO Paul Averback said, "The dismissal at this stage is a legal step after consultation with counsel, with whom we have full confidence. We assure our shareholders that further steps are contemplated and we will report accordingly at the appropriate time."

About NYMOX

Nymox has submitted applications seeking the approval to, and continues to consider submitting additional applications seeking the approval to market the Company's first in class drug NYMOZARFEX (TM) 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.

Nymox has reported 10-year follow-up new data on all available patients from its U.S. clinical trial of NYMOZARFEX (TM) for the treatment of low grade localized prostate cancer. The available long-term data newly assessed, confirmed that all available data shows that the NYMOZARFEX (TM) treatment had important and statistically significant benefit for reducing the long-term progression of these prostate cancers.

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 patients with over 1600 injections administered including over 1200 NYMOZARFEX (TM) administrations. NYMOZARFEX (TM) has led to significant long-term improvements and has shown an excellent safety profile without the side effects normally associated with existing BPH treatments.

For more information please contact info@nymox.com or 800-936-9669.

Forward Looking Statements

To the extent that statements contained in this press release are not descriptions of historical facts regarding Nymox, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the need for new options to treat BPH and prostate cancer, the potential of Fexapotide to treat BPH and prostate cancer and the estimated timing of further developments for Fexapotide. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Nymox's regulatory filings, Nymox's substantial dependence on Fexapotide, Nymox's commercialization plans and efforts and other matters that could affect the availability or commercial potential of Fexapotide. Nymox undertakes no obligation to update or revise any forward looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Nymox in general, see Nymox's current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2023.

FAQ

Why did Nymox (NYMXF) dismiss its Delaware legal action against Ascella in March 2025?

Nymox dismissed the action after reconsidering its strategy to protect shareholders, following consultation with legal counsel.

What did Nymox CEO Paul Averback say about the Delaware case dismissal?

Averback stated it was a legal step taken after consulting counsel, and that further steps are contemplated to be reported at the appropriate time.

When was the Delaware legal action against Ascella dismissed by Nymox (NYMXF)?

The legal action was dismissed on March 7, 2025.

What future actions has Nymox (NYMXF) planned following the Ascella case dismissal?

The company stated that further steps are being contemplated and will be reported at the appropriate time.