Nymox Pharmaceutical Corp (NASDAQ:NYMX) shares soared in after hours trading. It is up $0.93 (25.55%) to $4.57. Could insider buying be what’s causing the huge jump here?
According to an SEC filing that was released late yesterday, Director of Nymox Pharmaceutical Corp (NASDAQ:NYMX) George Robinson, had acquired 63,334 shares of company stock between December 14 and December 18 (yesterday) at prices between $3.43 and $3.97 per share. This large insider buy by Robinson comes on the heels of him making another Form 4 filing back on December 11, showing that he had purchased 46,812 shares between December 7 and December 11. This puts Robinson’s holdings of Nymox Pharmaceutical Corp (NASDAQ:NYMX) at 2,532,746 shares of common stock.
These large insider buys have investors wondering if there is something positive coming from the pharmaceutical company in the coming days or weeks. They’ve recently announced that they are moving forward in filing for approval for their prostate enlargement drug, NX-1207 — fexapotide triflutate.
The stock decreased 4.46% or $0.17 on December 18, hitting $3.64. About 291,902 shares traded hands or 22.21% up from the average. nymx has risen 114.12% since May 18, 2015 and is uptrending. It has outperformed the S&P500 by 116.38%.
Nymox Pharmaceutical Corp., formerly Corporation Pharmaceutique Nymox, is a biopharmaceutical company. The company has a market cap of $162.41 million. The Firm is focused on developing its drug candidate, NX-1207, for the treatment of benign prostatic hyperplasia and the treatment of low-grade localized prostate cancer. It currently has negative earnings. The Firm markets NicAlert and TobacAlert tests that use urine or saliva to detect use of tobacco products.