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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

  • 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."

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