This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Myrexis Reports First Quarter Fiscal 2011 Financial Results

Azixa TM Two-Arm Phase 2b Study in Glioblastoma to Begin by Calendar Year-End

Received ~$1.2M Section 48D Tax Grant

Conference Call Today at 4:30pm EST

Upcoming Events

  • Initiate two-arm Phase 2b Azixa study in first-line glioblastoma multiforme (GBM)
  • Present updated Phase 2 monotherapy results in GBM patients who have failed Avastin ® (bevacizumab) treatment at Society for Neuro-Oncology
  • Present pre-clinical anti-tumor activity of MPC-9528 (cancer metabolism inhibitor (CMI)) at the EORTC-NCI-AACR Symposium on "Molecular Targets and Cancer Therapeutics"
  • Complete Phase 1 study of MPC-3100 (fully-synthetic Hsp90 inhibitor) in solid and hematological refractory cancer patients

Highlights

  • Presented pre-clinical data demonstrating significant tumor growth inhibition by MPC-9528 and further demonstrating that co-administration of niacin may significantly enhance safety and efficacy
  • Presented pre-clinical data demonstrating potent and selective suppression of type 1 interferons and other pro-inflammatory cytokines by MPI-0485520 (oral anti-interferon inhibitor) at the 74 th Annual ACR/ARHP Scientific Meeting
  • Awarded ~$1.2 million in grants under The Patient Protection and Affordable Care Act of 2010 (PPACA). Each of five applications submitted for review qualified for the program
  • $138.9 million in cash, cash equivalents and marketable securities as of September 30, 2010

SALT LAKE CITY, Nov. 9, 2010 (GLOBE NEWSWIRE) -- Myrexis, Inc. (Nasdaq:MYRX), a biotechnology company focused on discovering, developing, and commercializing novel treatments for cancer, today reported financial results for its first quarter of fiscal 2011 ended September 30, 2010. The Company ended its first fiscal quarter with $138.9 million in cash, cash equivalents and marketable securities. Subsequent to quarter-end, the Company was granted approximately $1.2 million under the Internal Revenue Code Section 48D for Qualifying Therapeutic Discovery Projects.

"During the previous quarter, we presented data for two of our pre-clinical drug candidates, MPC-9528 and MPI-0485520. We have also made significant progress toward the initiation of the upcoming Phase 2b clinical trial of our lead compound Azixa in newly-diagnosed GBM patients," said Adrian N. Hobden, Ph.D., President and CEO of Myrexis, Inc. "We look forward to the initiation of this Phase 2b study by the end of the calendar year, and we believe Azixa has the potential to become a first-line treatment option for GBM and succeed where other brain cancer treatments have failed. Azixa has a unique ability to cross the blood-brain barrier and attain high levels of anti-tumor activity in brain tissue. While our previous Azixa studies have demonstrated anti-tumor activity in difficult to treat, relapsed GBM patients, this two-arm Phase 2b study is designed to support a future Phase 3 pivotal program as a first-line treatment for GBM."

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs