Back on May 5, we published this piece, highlighting Nymox Pharmaceutical Corporation (NASDAQ:NYMX) as a company to keep an eye on in the biotechnology space. At the time, the company traded for around $3.90 a share, having just taken a sever hit and dip from just shy of $5 a piece. The dip was driven by what we saw as something relatively insignificant and – on the back of this insignificance – we suggested that the company should recover towards the aforementioned highs near term.In turn, we suggested that the company might be a nice dip-buying opportunity.At the session close on Thursday, Nymox traded for $4.60 a piece. The company hasn’t quite closed the gap to its $5 peak, but it's not far off, and for readers that picked up an exposure based on our expectations when we first highlighted this one, it's an 18% appreciation.The question now is, what's next?Let's take a look.The primary focus of our coverage last time, and what we saw as driving the company to the upside going forward, was the submission of a filing for approval in Europe for an asset called Fexapotide Triflutate. It's a drug that's been in development for the better part of 15 years and that – across this period – has taken a bit of a beating from many in the biotech and the financial space. It's targeting an indication of prostate enlargement (BPH benign prostatic hyperplasia), a condition for which the current standard of care treatments are limited and – in many – ineffective.Data from numerous legacy studies have suggested that the asset can be effective in this population and that – as a kicker – it might also reduce the potential for a patient receiving treatment to develop prostate cancer long term.We like to look at the numbers, not the sentiment, so regardless of the market's impression of the drug, we stand firmly behind its potential; it's this opinion that drives our bullish thesis on the stock.If the drug picks up approval in Europe it paves the way for a considerable boost to the company's topline (we're talking potentially hundreds of millions of dollars if Nymox can execute on a solid marketing strategy and especially if the approvals allow the company to play off the reduced cancer risk feature) and – in turn – we're going to see a sharp revaluation in its market capitalization.So what's the latest news?The current standard of care therapies can seriously impact sexual function in patients. This is one of the major reasons many patients choose not to undergo treatment and it's one of the things Nymox was hoping to capitalize on with its Fexapotide alternative asset.The latest release details the results of a study in the US (a phase III study) that addressed sexual function as an endpoint. As per the results, the drug translated to a stat sig improvement in sexual function in a group of BPH patients that received Fexapotide, as compares to a group of patients that received placebo.As far as registration approval goes, this sort of thing isn’t likely to affect the FDA's decision either way as and when this drug goes in front of the agency. What it does mean, however, is that the company has a nice benefit-type feature with which to play on when it comes to marketing this asset in the US. Those patients that don't want standard of care because they are concerned it might impact sexual function, or those with BPH that are already experiencing some degree of impaired sexual function as a direct symptom of their condition, should jump at the chance to take a drug that clears up the condition while also translating to an improvement in sexual function over time.Get the whole story: check our previous coverage of this one here. We will be updating our subscribers as soon as we know more. For the latest updates on NYMX, sign up below!Image courtesy of NIAID via FlickrDisclosure: We have no position in NYMX and have not been compensated for this article.
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