Nymox Pharmaceutical Corp. said Thursday it has obtained a pledge for $15 million financing from investors.
The money will be used for general group purposes. The financing also will help the business keep on with research into new drugs including one called NX-1207, which could treat an swollen prostate.
The investors may get common stock at a 3% reduction to the market price, the company said.
The timing and quantity of each placement is in the sole maturity of the company. There are no warrants, price resets, and no limits on other corporate financing.
Products currently marketed by Nymox include tests for measuring tobacco product exposure sold under the NicAlert and TobacAlert names and a test to aid in the analysis of Alzheimer’s disease.
