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TheStreet Open House

Myrexis Reports Fiscal Year 2010 Results

In July 2010, Myriad Pharmaceuticals, Inc. changed its name to Myrexis, Inc., and announced its intention to focus internal development efforts on its robust pipeline of preclinical and clinical drug candidates with first-in-class/best-in-class therapeutic potential in oncology.

"During the past year our oncology pipeline has generated compelling clinical and preclinical results, and is now our top priority," said Adrian N. Hobden, Ph.D., President and CEO of Myrexis, Inc. "Our product candidates have demonstrated significant therapeutic potential in hard-to-treat cancers, particularly in patients that have exhausted alternative treatment options or are unable to tolerate available therapies. Our goal is to develop highly potent and selective drugs that offer strong efficacy and improved safety, while limiting off-target toxicities or multidrug resistance associated with current treatments in the market or under development," continued Dr. Hobden.

"By the end of the second half of calendar year 2010, we look forward to completing the Phase 1 study of MPC-3100, our fully-synthetic oral Hsp90 inhibitor. We also plan to complete preclinical work with our exciting cancer metabolism inhibitor, MPC-9528, and file an IND in the first half of calendar year 2011," he concluded.

In the first year after its spin-off from Myriad Genetics, Inc. (Nasdaq:MYGN), the Company has made significant progress with its oncology portfolio, highlighted at several important scientific meetings:

Azixaâ„¢ (verubulin, MPC-6827), a novel, small-molecule microtubule destabilizing agent which achieves remarkable drug levels in the brain, was featured at the annual American Society of Clinical Oncology (ASCO) meeting in June 2010. In two Phase 2 clinical studies in patients with recurrent glioblastoma multiforme (GBM) and stage 4 metastatic melanoma, Azixa in combination with standard of care resulted in durable responses with no added toxicity compared to chemotherapy alone. Based on these results, Myrexis expanded the program and is currently planning to initiate a Phase 2b 2-arm trial of Azixa with temozolomide versus temozolomide alone in glioblastoma patients. In addition, a Phase 2 clinical trial with Azixa as a single agent is fully enrolled and currently ongoing in patients with recurrent GBM. The single-agent study includes patients who have also failed prior Avastin treatment. An update from this study is expected at a scientific conference in the first half of calendar year 2011.

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