Nymox Reports Victory in Bahamas Litigation Against Terminated Ex-Employees – Court Awards Costs and Damages

IRVINE, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Nymox Pharmaceutical Corporation (“Nymox”) (OTC Markets - NYMXF) is pleased to report that the Bahamas Supreme Court has issued a formal Order officially putting an end to the Bahamas litigation brought by terminated ex-employees. The Order also awards to Nymox its costs incurred in defending the ill-conceived lawsuit, as well as damages Nymox has suffered as a result of the litigation.

The Court order states the following:

1. The Interim Injunction Order is set aside;
2. The damages caused to the Company shall be assessed by a Registrar and paid by the Claimants (the persons who filed the lawsuit); and
3. The Claimants shall pay the Company’s net costs for the entire Action.
   

This is the first of more than one action by and between the Company and Randall Lanham, (former General Counsel for Nymox), Chris Riley, (former short-term CFO), Richard Cutler (former external Counsel and member of Board), and their financial backers.

Dr. Paul Averback, the Company CEO stated: "The malfeasances by these persons has been a costly and time-consuming distraction for our hard-working diligent management and Board, and our great supportive shareholders. We have much more important and more positive things to do. Our shareholders were not fooled by the transparent mischief initiated with these attempts to take control of company properties, which these individuals did not make, develop, own, or even faintly or remotely understand on any adequate technical or business level. We are delighted to continue to celebrate the departure of these individuals after they were fired last year, and the court verdict is a positive further step forward. The amounts of expenses plus damages is in process, and we will report further when we have that exact information. A hands down victory for Nymox and for our great shareholders."

Dr. Averback continued: "The Company has 2 submissions under review for its Nymozarfex (TM) drug treatment for prostate enlargement. The Company also has the drug in development for prostate cancer. We are very happy to report that the work of the Company has proceeded methodically. We cannot guarantee things that we do not control. One thing we do control, and we can guarantee, is that our extended team gives 110% and does the maximum, -- we are working for our shareholders, and in their best interests."