Below is the first part of an article Marc Primo Pulisci is reading from Nasdaq.com. It reads…
NEW YORK, Nov. 25, 2014 (GLOBE NEWSWIRE) — The Rosen Law Firm announces that a class action lawsuit has been filed on behalf of purchasers of Nymox Pharmaceutical Corporation common stock (Nasdaq:NYMX) during the period from January 31, 2011 through November 2, 2014. The class action seeks to recover investors’ losses under the federal securities laws.
To join the Nymox class action, go to the website http://www.rosenlegal.com/cases-447.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
The lawsuit assert Nymox failed to disclose material information affecting the Phase 3 clinical trials for Nymox’s proprietary drug NX-1207 for the treatment of benign prostatic hyperplasia (BPH). Specifically, the Complaint alleges that Nymox misled investors by misrepresenting or concealing that: (1) that the Phase 3 trial results were not tangible or objective; (2) the difficulty in obtaining objective and measured results, (3) the small likelihood of enrolling sufficient patients for the trial; and (4) the trial had an unreasonably small chance of success.
On November 2, 2014, Nymox disclosed that its two Phase 3 studies of NX-1207 were halted because the drug failed to meets its primary endpoints for efficacy. On November 3, 2014, Nymox held an investor conference call in which it admitted it was aware of certain problems concerning the Phase 3 trials. As a result of this adverse information, Nymox’s share price dropped over $4.0/share or more than 80%, damaging investors.
– See more at: Here