Healthcare Industry News: GTx
News Release - April 4, 2007
GTx, Inc. Appoints Ronald A. Morton, Jr. MD, FACS as Chief Medical OfficerMEMPHIS, Tenn.--(HSMN NewsFeed)--GTx, Inc. (Nasdaq: GTXI ) announced today the appointment of Ronald A. Morton, Jr., M.D., F.A.C.S. as Chief Medical Officer.
"Ron Morton's appointment as Chief Medical Officer further strengthens GTx's management team, and he will provide outstanding medical leadership as we execute our commercialization plans for ACAPODENE and Ostarine," said Mitchell S. Steiner, M.D., Chief Executive Officer of GTx. "Dr. Morton is an excellent fit for our company."
Dr. Morton joins GTx from the University of Medicine & Dentistry of New Jersey Robert Wood Johnson Medical School, where he served as Professor of Surgery, Chief of Urology and Director of Urologic Oncology for the Cancer Institute of New Jersey. Dr. Morton also held the Conzen Chair for Clinical Research and was the Director of the New Jersey Center for Clinical and Translational Sciences. Prior to joining Robert Wood Johnson Medical School in 2004, Dr. Morton held a dual faculty appointment at the Baylor College of Medicine in the Scott Department of Urology and in the Department of Molecular and Cell Biology, was Clinical Director of the Baylor Adult Urology Program, Chief of Urology at the Houston Veterans Administration Medical Center, and Director of the Baylor Prostate Cancer Center Research Laboratories. He received his bachelor and medical degrees from the Johns Hopkins University and completed his urology training and postdoctoral fellowship and was an AFUD Scholar at the Johns Hopkins Brady Urological Institute.
GTx, headquartered in Memphis, Tenn., is a biopharmaceutical company dedicated to the discovery, development, and commercialization of small molecules that selectively target hormone pathways to treat cancer, osteoporosis and bone loss, muscle wasting and other serious medical conditions. GTx is developing ACAPODENEŽ (toremifene citrate), a selective estrogen receptor modulator, or SERM, in two separate clinical programs in men: first, a pivotal Phase III clinical trial for the treatment of serious side effects of androgen deprivation therapy for advanced prostate cancer, and second, a pivotal Phase III clinical trial for the prevention of prostate cancer in high risk men with high grade prostatic intraepithelial neoplasia. GTx has licensed to Ipsen Limited exclusive rights in Europe to develop and commercialize ACAPODENEŽ. GTx also is developing Ostarine(TM), a first-in-class selective androgen receptor modulator, or SARM. GTx plans to initiate a Phase IIb Ostarine(TM) clinical trial for cancer cachexia by the summer of 2007. GTx plans to initiate a Phase IIb Ostarine(TM) clinical trial for the treatment of chronic kidney disease and end stage renal disease muscle wasting by the end of 2007. GTx believes that Ostarine(TM) also has the potential to treat a variety of other indications associated with muscle wasting and bone loss including sarcopenia and osteoporosis.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release contains forward-looking statements based upon GTx's current expectations. Forward-looking statements involve risks and uncertainties. GTx's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the risks that (i) GTx will not be able to commercialize its product candidates if clinical trials do not demonstrate safety and efficacy in humans; (ii) GTx may not able to obtain required regulatory approvals to commercialize its product candidates; (iii) GTx's clinical trials may not be completed on schedule, or at all, or may otherwise be suspended or terminated; and (iv) GTx could utilize its available cash resources sooner than it currently expects and may be unable to raise capital when needed, which would force GTx to delay, reduce or eliminate its product development programs or commercialization efforts. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. GTx's annual report on form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on March 9, 2007, contains under the heading "Risk Factors," a more comprehensive description of these and other risks to which GTx is subject. GTx expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
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