Positive news flowed in at Nymox Pharmaceutical Corporation (NYMX) recently when the Independent Data Monitoring Committee (:IDMC) reported the third positive analysis of safety data from the company’s ongoing phase II study (NX03-0040) of NX-1207 for low grade localized prostate cancer.
The IDMC’s interim safety analysis found no significant safety concerns associated with the use of NX-1207 for the treatment of low risk localized prostate cancer. The NX03-0040 study is assessing the efficacy and safety of both low (2.5 mg) and high (15 mg) single doses of NX-1207 in eradicating or shrinking low grade localized prostate cancer tumors. The phase II study is ongoing and is expected to be completed by May 2013.
NX-1207 is in phase III development both in the US and Europe for the treatment of patients suffering from benign prostatic hyperplasia (:BPH). In Europe, the company has a licensing agreement with Recordati S.p.A. Recordati is sponsoring the recently initiated phase III study in Europe.
We note that the prostrate cancer market offers a lucrative opportunity. Currently approved prostate cancer treatments include Johnson & Johnson’s (JNJ) Zytiga. Moreover, the prostate cancer market saw a new entrant in Aug 2012 in the form of Medivation’s (MDVN) Xtandi (enzalutamide).
Nymox Pharma currently carries a Zacks Rank #3 (Hold). Stocks that currently look attractive in the pharma space include companies like Cytokinetics, Inc. (CYTK) carrying a Zacks Rank #1 (Strong Buy).
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