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news.Nymox Pharmaceutical has secured a new commitment for $15 million in equity financing from institutional investors that will be used for general corporate purposes.
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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.
Paul Averback, CEO of Nymox, said: “Nymox has a very low burn rate. The company has zero long term debt and the new financing reinforces our drug development activities as we advance our products to market.”