CARSON CITY, Nevada and LONDON, July 10, 2023 /PRNewswire/ --
WHO: Newly formed organization, The Committee to Restore Nymox Shareholder Value, Calls for Shareholder Support
WHAT: Following the distribution of a press release by Nymox Pharmaceutical Corporation (the Company) regarding a NASDAQ Hearing Delist Decision at the open of business on July 7, 2023, rebuttal letters are being issued to all Company shareholders. Access the documents at www.crnsv.com
When: July 10, 2023
Where: CARSON CITY, Nevada; LONDON
Why:Summary of Rebuttal Letters:
- Lack of Company Leadership:
- Termination of key management as officers of the company and subsequent failure to properly notify shareholders in violation of SEC rules governing 6-K filings.
- Operational mismanagement, disclosure issues and market fiasco.
- Shareholder uncertainty and confusion resulting from NASDAQ delisting and recent volatility of stock price.
- Inability to competently engage with US Food and Drug Administration.
- Failure of CEO to execute and fulfill key components of his role including, to: adhere to the advice and expertise of counsel and industry experts; appropriately fund the company; or adequately engage the Company shareholders.
- Inability to Realize the Potential for Valuable and Promising Results Through Relationship with AscellaHealth LLC: a highly respected global healthcare and specialty pharmacy solutions company with expertise to help commercialize the Company's BPH product.
- Failed opportunity to leverage the committed funding, expertise, and experience of AscellaHealth to successfully position pharmaceuticals, drugs, and biotech products worldwide.
- Absence of strategic marketing plan and communications with internal and external audiences to implement effective positioning to seek approval of the Company's first in class drug NYMOZARFEX to treat the symptoms of benign prostatic hyperplasia (BPH). BPH is one of the most common conditions affecting middle aged and elderly men throughout the world.
- Lack of Solution or Plan for Financial Recovery of Shareholder Value
- Breakdown in alignment with AscellaHealth negates financial commitment and expertise to restore value to the Company in anticipation of the Danish market approval decision.
- Steady decline in stock value, while it was documented the CEO received an inflated remuneration package and personally sold over $4,000,000 worth of stock in the last 5 years.
- AscellaHealth, LLC potential partnership terminated by CEO, prior to discussion with key board members or other officers.
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