Nymox Pharmaceutical Corporation (NASDAQ:NYMX) Stock Suddenly Sees Buying Interest: But Why?

Nymox Pharmaceutical Corporation (NASDAQ:NYMX) jumped 17%  on no company-specific news. Recently, the company announced plans to file for marketing approval for FexapotideTrifluatte for BPH on or around September 15, 2021.

CEO Paul Averback stated that the company plans to file before or on September 15, 2021, but warned that they are not certain that the date might be before the end of summer. Nymox management will be providing updates regarding the process in the coming days as deemed appropriate.

The company specializes in diagnostics and therapeutics research and development, more so on drugs targeting unmet medical needs in the fast-growing aging male demographic in developed countries. Its leading drug candidate FexapotideTriflutate (FT) for benign prostatic hyperplasia, has finished phase 3 development in over 70 clinical sites in the US, involving around 1700 patients during the whole clinical trial program. Therefore in the comings weeks, NYMX is a stock to keep an eye on ahead of the marketing approval filing.

Market Reaction:

On Wednesday, NYMX stock soared 17.50% at $1.54 with more than 668K shares, compared to its average volume of 421K shares. The stock has moved within a range of $1.3500 – 1.5950 after opening the trade at $1.42. Over the past 52-week, the stock has been trading within a range of $1.2500 – 3.5000.