Nymox announces $16.25M equity financing with long-term investors
Nymox Pharmaceutical announced that it has successfully secured $16.25M in new equity capital with several professional high net worth investors. A Company Director and a Company Officer also participated in the financing with $2M and $0.15M respectively. The company believes that with the new funds, it will be adequately financed well beyond expected outcome timings for its regulatory submissions in Europe and the U.S. for its novel treatment, Fexapotide Triflutate for the treatment of the symptoms of benign prostatic hyperplasia. The company will receive net proceeds of $16.25M from the offering with an overall average price of 22% discount to the closing price with no fees involved as the placement was managed directly by the company. The company intends to use the proceeds from the financing for working capital and other general corporate purposes. The lead investor, who invested $12M, will also receive 2.5 million warrants at $8.00 per share.