What is causing the rapid rise in the NYMOX shareprice?

The shareprice of NYMOX Pharmaceutical {NASDAQ: NYMX} has virtually tripled in the past week!

News released on Wednesday that NYMOX are continuing further analysis for Phase 3 studies does not seem good enough on its own to support such a parabolic rise.

After a torrid last year or so, during which time the company reported poor news, and the shareprice fell from $5 to around 30c, one wonders why the NYMOX share price has suddenly spiked now, on no apparent good news to support it.?

Opening trading on Monday at 60c, in a week only containing four trading days they closed at $1.73, virtually a 200% rise.

On Wednesday NYMOX announced that is undertaking further analysis of its pivotal Phase 3 studies of NX-1207 for prostate enlargement (BPH), which will include new long-term data from their studies NX02-0017, and NX02-0018. This news alone does not seem to support such a rise in Shareprice.

NYMOX expects to provide the results for these new pivotal Phase 3 study results Q2 or Q3 2015. The NX02-0017 and NX02-0018 studies were initiated in 2009,  NX02-0017 completed in 2012, and NX02-0018 in 2013.

Sadly, at 12 months post-treatment there was no overall top-line statistical significance for the efficacy of treatment in terms of BPH Symptom Score improvement versus controls. One positive was that the safety profile of NX-1207 was excellent.
Dr. Paul Averback, CEO of Nymox, commented “Despite the setback of top-line results not initially beating controls statistically at 12 months post-treatment in these large studies, we continue to believe that NX-1207 has enormous potential for long-term management of BPH. Additional new blinded protocol data from the same pivotal studies is being prospectively captured in order to assess long-term results in patients up to 5 years after a single injection of NX-1207 2.5 mg versus a placebo”.
Running concurrently, NX-1207 is also in late-stage development for low grade localized prostate cancer, where eight-month efficacy results showing statistically significant reduced cancer progression in patients who received NX-1207 compared to standard of care.