Myrexis Reports Second Quarter Fiscal 2011 Financial Results

Azixa ^TM Two-Arm Phase 2b Study in Glioblastoma Initiated

Conference Call Today at 4:30pm EST

Upcoming Events

• Report Phase 2 monotherapy results in recurrent glioblastoma multiforme (GBM) patients naive to treatment with Avastin ^® (bevacizumab)
• Present additional pre-clinical anti-tumor activity and pharmacodynamics of MPC-9528 (cancer metabolism inhibitor (CMI)) at the annual meeting of the American Association for Cancer Research (AACR)
• Report results of Phase 1 study of MPC-3100 (fully-synthetic Hsp90 inhibitor) in solid and hematological refractory cancer patients and update development plans
• Present updated preclinical data from studies of the Company's novel oral anti-interferon (OAI), MPI-0485520, at the European League Against Rheumatism (EULAR) Annual European Congress of Rheumatology

Highlights

• Initiated two-arm Phase 2b Azixa study in first-line GBM 
• Azixa data published in two peer-review journal articles in Molecular Cancer Therapies and Drugs of the Future
• Presented updated Phase 2 monotherapy results in GBM patients who have failed Avastin ^® (bevacizumab) treatment at the Society for Neuro-Oncology
• Presented pre-clinical anti-tumor activity of MPC-9528, including demonstrated synergy with poly(ADP-ribose) polymerase (PARP) inhibitors, at the EORTC-NCI-AACR Symposium on "Molecular Targets and Cancer Therapeutics"

SALT LAKE CITY, Feb. 9, 2011 (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 second fiscal quarter ended December 31, 2010. The Company ended the quarter with $132.8 million in cash, cash equivalents and marketable securities. During the quarter the Company received grants of approximately $1.2 million under the Internal Revenue Code Section 48D for Qualifying Therapeutic Discovery Projects.

"During the previous quarter we made significant progress with our lead program Azixa and multiple key programs. Most importantly, we initiated a two-armed Phase 2b clinical trial for Azixa in newly-diagnosed GBM patients," said Adrian N. Hobden, Ph.D., President and CEO of Myrexis, Inc. "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. 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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