Axonyx Regains Compliance with Nasdaq Minimum Bid Price Rule

About Axonyx

Axonyx Inc. is a U.S.-based biopharmaceutical company engaged inthe acquisition and development of proprietary pharmaceuticalcompounds for the treatment of Central Nervous System disorders. TheCompany currently has three compounds in development for Alzheimer'sdisease, namely Phenserine - a potential symptomatic and diseaseprogression treatment of mild to moderate Alzheimer's Disease (AD),Posiphen(TM) - a potential disease progression treatment for AD now inPhase I, and BisNorCymserine (BNC) - a potential symptomatic treatmentof severe AD now in pre-Investigational New Drug (IND) stage. TheCompany is looking to identify licensing partners to further thedevelopment of Phenserine.

This press release may contain forward-looking statements orpredictions. These statements represent our judgment to date, and aresubject to risks and uncertainties that could materially affect theCompany, including those risks and uncertainties described in thedocuments Axonyx files from time to time with the SEC, specificallyAxonyx's annual report on Form 10-K. Specifically, with respect to ourdrug candidates Phenserine, Posiphen(TM) and BisNorCymserine, Axonyxcannot assure that: any preclinical studies or clinical trials,whether ongoing or conducted in the future, will prove successful, andif successful, that the results can be replicated; safety and efficacyprofiles of any of its drug candidates will be established, or ifestablished, will remain the same, be better or worse in futureclinical trials, if any; pre-clinical results related to cognition andthe regulation of beta-APP will be substantiated by ongoing or futureclinical trials, if any, or that any of its drug candidates will beable to improve the signs or symptoms of their respective clinicalindication or slow the progression of Alzheimer's disease; any of itsdrug candidates will support an NDA filing, will be approved by theFDA or its equivalent, or if approved, will prove competitive in themarket; or that Axonyx will have or obtain the necessary financing tosupport its drug development programs. Axonyx cannot assure that itwill be successful with regard to identifying a (sub-) licensingpartner for any of its compounds, or that any such partner willsuccessfully develop or commercialize any such compound. Axonyxundertakes no obligation to publicly release the result of anyrevisions to such forward-looking statements that may be made toreflect events or circumstances after the date hereof or to reflectthe occurrence of unanticipated events.