If You Had Bought Nymox Pharmaceutical (NASDAQ:NYMX) Shares Five Years Ago You’d Have Made 91%
Simply Wall St, 05 May 2020
In late January 2021, GameStop experienced a once-in-a-decade squeeze that has captivated the world’s attention. It was a premeditated and programmatic exercise, orchestrated by coordinated stock and option buying across the retail and professional community, resulting in large institutional entities losing billions of dollars. Investment houses with significant short positions did not expect a stock with GameStop’s fundamental profile to increase +2,500% in price over less than three weeks; therefore, they did not have the controls in place to handle the incredible levels of stock and call option purchases. The frenzy drew comments from the White House, provoked a social media crackdown, caused brokerage units to restrict trading, and has led to a Congressional hearing on GameStop on Thursday, February 18th.
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Nymox Pharmaceutical: Assessing The Short And Long Ideas
Avisol Capital Partners, 13 June 2019
Nymox Pharmaceutical (NYMX) has been accused of being an outright serial scam by well-known biopharma short expert Richard Pearson. This was from August 10, 2016, and he had this headline for his article – “Nymox: This Offshore ‘Biotech’ Promotion Will Go To Zero (Yes, Zero).” In that well-written article, he went on to claim how the company hid details of poor trial data from the public, while senior management continued to dump stock without timely SEC disclosure, how the company’s auditor, legal counsel, bankers are all “closely tied to regulatory violations, stock promotions and/or outright fraud,” and how the author filed an SEC complaint against the company after publishing the article.
That article took the stock down by almost 50%. However, it quickly recovered in the same month to soar back to above where it was before the fall. Couple more short articles followed over the years. Some people, I am sure, made money during that fall and rise.
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Nymox Pharmaceutical Corporation Investigated For Securities Fraud By Block & Leviton After Report Reveals Pervasive Misconduct By The Company
PRNewswire, 11 August 2016
Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether Nymox Pharmaceutical Corporation (“Nymox” or the “Company”) (NASDAQ: NYMX) and certain of its officers and directors violated federal securities laws.
Nymox shares plummeted nearly 41% on August 10, 2016, after an article titled “Nymox: This Offshore ‘Biotech’ Promotion Will Go To Zero (Yes, Zero)” was published on the investment research site Seeking Alpha, reporting that Nymox has and continues to mislead shareholders about the Company’s prospects, while “dumping millions in stock without making timely SEC disclosures.” The revelation of Nymox’s fraudulent conduct has caused tens of millions in losses to Nymox investors.
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Class Action Lawsuit Filed Against Nymox Pharmaceutical Corporation and Paul Averback by Law Offices Bernard M. Gross, P.C. — NYMX
GLOBE NEWSWIRE, 25 November 2014
The lawsuit filed against the Company and Paul Averback, the president, director and chairman of the Company, alleges violations of the federal securities laws based on their failure 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). NYMOX is engaged in the research and development of therapeutics and diagnostics, with an emphasis on the products for the unmet needs of the aging population. NX-1207 showed positive results for the treatment of BPH in Phase 1 and Phase 2 clinical trials in the U.S. The Company regularly provided positive updates on the Phase 3 clinical trials. However, in a surprise to the market, and contrary to the positive statement concerning the NX02-0017 and NX02-0018 trials, defendants disclosed on November 2, 2014 that the Company’s two Phase 3 U.S. studies of NX-1207 had to be halted because the drug failed to meets its primary endpoints for efficacy. On November 3, 2014, defendants held a conference call with analysts to explain the failure and on that conference call disclosed to the market for the first time, among other things, the difficulties they faced in enrolling men for the trials and the subjective nature of the measurement of the drug’s success. The market’s reaction was immediate and dramatic as the price of NYMOX common stock fell 82% to close at $.93 on unprecedented trading volume of 19.6 million shares. The Company’s U.S. BPH program is currently on hold, pending further evaluation of data.
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