Shares of Nymox (NYMX) closed up 100% after announcing positive phase 3 results for patients with BPH. BPH (benign prostatic hyperplasia) is characterized by an enlarged prostate gland that causes a problem in urinating and the need to urinate often. There are more than 3 million cases of BPH in the U.S. per year. 

Both Phase 3 trials using the company's drug known as fexapotide triflutate -- also known as NX-1207 -- had originally failed in November. But the long-term extensions of both phase 3 trials have now met the primary endpoint of being statistically significant over the placebo compounds. 

There was a statistically significant higher proportion of patients -- 64% -- who achieved higher in the AUA BPH symptom score taking NX-1207 compared to those patients only on placebo. In addition these results were achieved by the patients only taking one single injection, and then followed up after a period of 2 years. 

Now Nymox intends to approach multiple regulatory authorities like the FDA and EMA to seek approval for NX-1207. What makes NX-1207 superior to other drugs on the market is that it is only injected into the patient once and then works for many years. Other drugs have to be given as oral pills which the patient must take every day for the rest of their lives. Nymox has the opportunity to capitalize on this drug that can help patients improve their symptoms while taking away the inconvenience of daily pills. 

The stock fell precipitously in November, from over $5 a share to under $1, breaking $2 for the first time since on today's news.

TM Editors' Note: Given that this has been until recently a penny stock, and is a nanocap, keep in mind that such stocks are easily manipulated and it is important to do careful due diligence.