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                                                                   Exhibit 99.1



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

IN A PHASE III LIPID INTERIM ANALYSIS, ACAPODENE TREATMENT LOWERED CHOLESTEROL
AND RAISED HDL IN PROSTATE CANCER PATIENTS ON ANDROGEN DEPRIVATION THERAPY

Memphis, Tenn., June 22, 2006 -- GTx, Inc. (Nasdaq: GTXI), the Men's Health
Biotech Company, announced today the results of a lipid interim analysis of the
pivotal Phase III ADT clinical trial evaluating oral, once daily ACAPODENE(R)
(toremifene citrate) 80mg for the treatment of the multiple serious side effects
of androgen deprivation therapy (ADT) in men with advanced prostate cancer.

The lipid interim analysis was performed in the first 197 subjects who completed
one year of the trial. Prostate cancer patients on ADT who received ACAPODENE
compared to placebo had lower total cholesterol (-7.1%; p=0.001), LDL (-9.0%;
p=0.003), and triglyceride (-20.1%; p=0.009) levels, a reduction in the total
cholesterol/HDL ratio (-11.7%; p<0.001), and higher HDL levels (+5.4%; p=0.018).
Although patients who were also taking statins had further reduction of total
cholesterol, the magnitude of these lipid changes was greater in patients who
were not concomitantly taking statins. The final lipid data set will be
evaluated before any conclusions may be made on the clinical significance of
these findings.

"Androgen deprivation therapy is quite effective in turning prostate cancer into
a chronic disease in many patients," said Matthew R. Smith, M.D., Ph.D.,
Associate Professor of Medicine, Harvard Medical School. Dr. Smith is the lead
Principal Investigator of the Phase III ADT clinical trial. "As patients are
living longer with prostate cancer because of ADT, serious side effects have
become major causes of morbidity and even death. These serious ADT side effects
include osteoporosis and fractures as well as adverse lipid changes and
cardiovascular disease. A medicine that is able to address multiple side effects
of ADT would mark important progress in the care of prostate cancer patients."

GTx is conducting a pivotal Phase III clinical trial of ACAPODENE for the
treatment of multiple serious side effects of ADT in approximately 1,400 men at
over 150 sites in the United States and Mexico. The primary endpoint of the
trial is a reduction in vertebral fractures. Secondary endpoints include
improvements in bone mineral density (BMD), hot flashes, gynecomastia, and lipid
profiles. Final data from the trial, which is being conducted under a Special
Protocol Assessment with the United States Food & Drug Administration, is
expected in the second half of 2007.

In December 2005, GTx conducted an interim analysis of the bone loss that leads
to fractures which is another serious side effect of ADT. BMD was measured in
the first 197 patients to complete one year of treatment. The per protocol
analysis revealed highly statistically significant increases in BMD in all three
skeletal sites assessed in patients receiving ACAPODENE compared to placebo:
lumbar spine (+2.3%; p<0.001); hip (+2.0%; p=0.001); and femoral neck




(+1.5%; p=0.009). The magnitude of these positive changes in BMD provides
increased confidence that ACAPODENE should show efficacy in the trial's primary
endpoint, a 40% reduction in vertebral fractures at two years.

"ACAPODENE has demonstrated the potential to increase bone mineral density, and
the lipid interim analysis suggests that ACAPODENE may lower cholesterol," said
Mitchell S. Steiner, M.D., CEO of GTx. "We continue to be confident in the Phase
III ADT clinical trial. If ACAPODENE can treat multiple serious side effects of
ADT, it has the potential to become the mainstay of prostate cancer supportive
care for patients on ADT."

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 ADT 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, or 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.