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Myrexis Reports Second Quarter Fiscal 2011 Financial Results

The Company's net loss for the three and six months ended December 31, 2010 was $7.9 million and $17.9 million, respectively, compared to $14.8 million and $25.4 million, respectively, for the corresponding periods in 2009. Basic and fully diluted net loss per share was $0.31 and $0.71 per share for the three and six months ended December 31, 2010, respectively, compared to $0.60 and $1.05 for the corresponding periods in the prior year.  

More detailed financial information and analysis may be found in the Company's Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission (SEC) on February 9, 2011.

Conference Call Details

The Company will hold a conference call on Wednesday, February 9, 2011 at 4:30 p.m. ET (1:30 p.m. PT) to discuss financial results for its second fiscal quarter ended December 31, 2010 and to provide an update on its clinical programs.

To participate, please dial:

877-312-5447 (USA) or
253-237-1129 (International)
Conference ID: 41570338.

To access the live web cast please visit the Investor Relations section on the corporate web site at www.myrexis.com .

A replay of the conference call will be available beginning February 9, 2011 at 7:30 p.m. ET (4:30 p.m. PT) and ending on March 9, 2011 by dialing:

800-642-1687 (USA) or
706-645-9291 (International)
Conference ID: 41570338.

A replay of the webcast will also be available on the corporate website for one month, through March 9, 2011.

About Azixa

Azixa, for the treatment of primary brain cancers, is the lead product candidate under development by Myrexis. Azixa is a novel small molecule that acts as a microtubule destabilizing agent, causing an arrest of cell division with subsequent programmed cell death, or apoptosis, in cancer cells. Several currently marketed clinically effective drugs share the identical mechanism of action. Importantly, however, Azixa has two unique, distinguishing characteristics. In non-clinical studies, Azixa has demonstrated the ability to effectively cross the blood-brain barrier and reach concentrations in the brain which are as much as 30 times that measured in the plasma. In addition, Azixa does not appear to be subject to multiple drug resistance (MDR) mechanisms.

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