Thursday, Nymox Pharmaceutical Corp. (NYMX) secured commitment for $15 million in equity financing from institutional investors. The new funding will be used for general corporate purposes. The financing gives the company the right to place common stock to the investors at a 3% discount to the market price of the company's stock. There are no warrants, price resets, and no restrictions on other corporate financing. The timing and amount of each placement is in the sole discretion of the company.
Nymox Pharmaceutical Corp., a biopharmaceutical company, engages in the research and development of drugs and diagnostic devices. Its products include NicAlert and TobacAlert tests that use urine or saliva to detect use of and exposure to tobacco products; and AlzheimAlert, a urinary test that aids physicians in the diagnosis of Alzheimer's disease.
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