This filing confirms Nymox is in a critical liquidity crisis with no revenue, minimal cash, and a going-concern warning. The death of the primary lender (James G. Robinson) creates extreme uncertainty around the $5.2M loan repayment due Dec 2026. Traders should monitor for any restructuring, bankruptcy filing, or emergency financing announcement. The stock is essentially a distressed binary option on the estate's willingness to extend or convert debt, or on a miracle regulatory outcome for NX-1207.
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Executive Summary
Nymox Pharmaceutical's FY2025 20-F reveals a pre-revenue biopharma with a going-concern qualification, only $6,000 cash, negative working capital of $9.3M, and an accumulated deficit of $216.7M. The lead drug candidate NX-1207 for BPH has failed Phase 3 endpoints and received an FDA Refusal to File; European MAA submissions have stalled or been refused. The company is entirely dependent on related-party loans from the late Co-Chairman James G. Robinson ($5.2M outstanding) and faces material uncertainty about its ability to continue. The auditor's going-concern emphasis and the death of the primary lender create existential risk for the equity.
Key Facts
- Cash and cash equivalents of only $6,000 as of December 31, 2025, down from $74,000 in 2024.
- Negative working capital of $9,306,391 and total stockholders' deficit of $9,305,703.
- Net loss of $4,275,475 for FY2025, with zero revenue for the fifth consecutive year.
- Accumulated deficit reached $216.7 million.
- Auditor M&K CPAS issued a going-concern emphasis paragraph, stating material uncertainty exists.
- Lead drug NX-1207 for BPH failed Phase 3 primary endpoints; FDA issued a Refusal to File Letter in May 2022.
- MAA submissions to Denmark and UK have stalled; the Danish application expired and the UK application status is uncertain.
- Co-Chairman and primary lender James G. Robinson passed away in March 2026; $5.2M in related-party loans plus $659,249 in accrued interest are due by December 31, 2026.
- Management states current cash is insufficient to fund operations for the next 12 months.
- Material weaknesses in internal controls over financial reporting were identified.
- Outstanding shares increased to 105,040,140 as of September 9, 2026, with 14,375,000 options outstanding.
- The company has never generated a profit since inception in 1995.
Financial Impact
Cash burn of $1.8M in FY2025; only $6,000 cash remaining; $5.2M in related-party debt due Dec 2026 with lender deceased; zero revenue; accumulated deficit of $216.7M.
Risk Factors
- Imminent liquidity crisis with only $6,000 cash and negative working capital of $9.3M.
- Going-concern risk is material and acknowledged by the auditor.
- Primary lender and Co-Chairman James G. Robinson passed away; $5.2M in loans plus interest due Dec 2026 with no agreed extension.
- Lead drug NX-1207 has failed Phase 3 endpoints and received FDA Refusal to File; European MAA submissions have stalled or been refused.
- Massive shareholder dilution risk: 14.4M options outstanding, potential conversion of $3M of debt into 10M shares at $0.30.
- Material weaknesses in internal controls over financial reporting.
- Pending litigation from former shareholders/directors, though company considers them without merit.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 20-F Filing (Primary) | 0001640334-26-001515 |
| Document: nymox_ex12a.htm | 0001640334-26-001515 |
| Document: nymox_ex12b.htm | 0001640334-26-001515 |
| Document: nymox_ex13b.htm | 0001640334-26-001515 |
| Document: nymox_ex13a.htm | 0001640334-26-001515 |
| Document: 0001640334-26-001515-index-headers.html | 0001640334-26-001515 |
| Document: 0001640334-26-001515-index.html | 0001640334-26-001515 |
| Document: 0001640334-26-001515.txt | 0001640334-26-001515 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 6w ago | 20-F | $0.000200 $0.000200 | · 0.00% | ▼ −0.46% | $0.0600 (−29900.00%) |
Aug 31, 2026 8w ago | 6-K | $0.000200 $0.000200 | · 0.00% | ▲ +0.69% | $0.0600 (+29900.00%) |
Aug 7, 2026 11w ago | 6-K | $0.000200 $0.000200 | · 0.00% | ▲ +0.03% | $0.0600 (+29900.00%) |
Jun 3, 2026 20w ago | 6-K | $0.1269 $0.0646 | ▲ +49.09% | ▲ +49.50% | $0.0600 (+52.72%) |
Mar 27, 2026 30w ago | 6-K | $0.0705 $0.0700 | ▼ −0.71% | ▼ −3.60% | $0.0600 (−14.89%) |
US Market Status
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