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                                                                    EXHIBIT 99.1



GTX ANNOUNCES ASCO PRESENTATION OF PHASE III INTERIM ANALYSIS SHOWING ACAPODENE
INCREASED BONE MINERAL DENSITY IN PROSTATE CANCER PATIENTS ON ANDROGEN
DEPRIVATION THERAPY

ATLANTA, June 5 /PRNewswire-FirstCall/ -- GTx, Inc., (Nasdaq: GTXI), the Men's
Health Biotech Company, announced that positive results of its Phase III interim
analysis showing ACAPODENE(R) (toremifene citrate) in an 80 mg dose increased
bone mineral density (BMD) in prostate cancer patients on androgen deprivation
therapy (ADT) are being presented today at the 42nd Annual Meeting of the
American Society of Clinical Oncology (ASCO). The planned interim analysis was
performed in December 2005 in patients participating in GTx's pivotal Phase III
clinical trial evaluating ACAPODENE for the treatment of multiple side effects
of ADT.

ADT is mainstay therapy for men with advanced prostate cancer. Patients on ADT
may experience multiple serious side effects, including osteoporosis and
fractures, adverse lipid changes, hot flashes, and painful breast swelling. On
average, prostate cancer patients on ADT who develop bone fractures have a
shorter life expectancy. GTx is conducting its fully enrolled pivotal Phase III
clinical trial evaluating ACAPODENE(R) for the treatment of multiple side
effects of ADT in nearly 1,400 patients in over 150 sites in the United States
and Mexico. The primary endpoint of this 2 year study is the reduction of
vertebral fractures.

Matthew Smith, M.D., Ph.D., Associate Professor of Medicine at Harvard Medical
School and the trial's lead Principal Investigator, is presenting the results of
the interim analysis of BMD in 197 prostate cancer patients on ADT who completed
one year of the study. Prostate cancer patients on ADT treated with ACAPODENE(R)
had highly statistically significant increases in BMD in all skeletal sites
assessed, including lumbar spine, hip, and femur, when compared to those men
taking placebo. This Phase III interim analysis represents the largest
prospective study to date evaluating the use of a selective estrogen receptor
modulator to treat osteoporosis in men on ADT. GTx expects to report final data
from the trial in the second half of 2007.

The schedule and meeting place for the session, together with the abstract
number, are listed below:

Monday, June 5, 2006 at 2:00 p.m. to 6:00 p.m. - Poster Discussion
Abstract No. 4553; Poster No. 1
"Toremifene citrate increases bone mineral density in men receiving
androgen deprivation therapy for prostate cancer."
Presenter: MR Smith, M.D., Ph.D.
Location: Building B, Level 4, Room B401

About GTx

GTx, headquartered in Memphis, Tenn., is a biopharmaceutical company dedicated
to the discovery, development and commercialization of therapeutics for cancer
and serious conditions related to men's health. GTx's lead drug discovery and
development programs are focused on small molecules that selectively modulate
the effects of estrogens and androgens, two essential classes of hormones. GTx
is developing ACAPODENE(R) (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 PIN. GTx also is developing ostarine, a
selective androgen receptor modulator, or SARM, for a variety of indications
including muscle wasting and bone loss in frail elderly patients, osteoporosis,
muscle wasting in end stage renal disease patients, and severe burn wounds and
associated muscle wasting. GTx has licensed to Ortho Biotech Products, L.P., a
subsidiary of Johnson & Johnson, another of its SARMs, andarine, under a joint
collaboration and license agreement.

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 be 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 Quarterly Report on Form 10-Q filed on May 5,
2006 contains 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.

SOURCE GTx, Inc.

CONTACT: McDavid Stilwell, Manager, Corporate Communications & Financial
Analysis, GTx, Inc., +1-901-523-9700.