GTx Congratulates Dr. Duane D. Miller on His Induction into the American Chemical Society Medicinal Chemistry Hall of Fame

GTx, Inc. (NASDAQ: GTXI) congratulates Dr. Duane D. Miller on his induction into the American Chemical Society’s Medicinal Chemistry Hall of Fame, the highest honor bestowed by ACS. The Memphis Local ACS Section will honor Dr. Miller at a dinner at GTx tonight.

Duane D. Miller, PhD, GTx Director of Medicinal Chemistry since 2003, is the Harriet S. Van Vleet Professor of Medicinal Chemistry and Associate Dean at the College of Pharmacy at the University of Tennessee at Memphis. Dr. Miller has been inducted into the American Chemical Society’s Medicinal Chemistry Hall of Fame and was the recipient of the 2008 Division of Medicinal Chemistry award. Dr. Miller received a B.S. in Pharmacy from the University of Kansas and a Ph.D. in medicinal chemistry at the University of Washington, where he was an NIH fellow. He began his academic career at The Ohio State University where he served as chair of the Department of Medicinal Chemistry and Pharmacognosy for 10 years and was appointed as a Kimberly Professor. In 1992, Dr. Miller moved to the University of Tennessee at Memphis as the Van Vleet Professor of Medicinal Chemistry, and in 2001 was appointed Associate Dean for Research and Graduate Programs in the College of Pharmacy.

"Dr. Miller is a towering figure in medicinal chemistry,” said Dr. Mitchell S. Steiner, CEO of GTx. "His influence has spread not only through the excellent scientific training he has provided his many Ph.D. students, but also in drug development and medicine through his involvement at GTx. Dr. Miller’s discoveries, particularly his work on SARMs, are now an integral part of our clinical development programs.”

Dr. Miller, along with GTx Vice President of Preclinical Research & Development, James T. Dalton, Ph.D., co-discovered and first described in the medical literature a new class of drugs, selective androgen receptor modulators (SARMs), which have the potential to treat muscle wasting and other musculoskeletal conditions. GTx and Merck & Co., Inc., have formed a global strategic collaboration for the discovery, development and commercialization of SARMs for the treatment of sarcopenia, which is the loss of skeletal muscle mass resulting in reduced physical strength and ability to perform activities of daily living, cancer induced muscle loss (cancer cachexia), and other musculoskeletal conditions.

About GTx

GTx, Inc., headquartered in Memphis, Tenn., is a biopharmaceutical company dedicated to the discovery, development, and commercialization of small molecules that selectively target hormone pathways to treat cancer, osteoporosis and bone loss, muscle wasting and other serious medical conditions. GTx is developing toremifene citrate, a selective estrogen receptor modulator, or SERM, in two separate clinical programs in men: first, a completed pivotal Phase III clinical trial evaluating toremifene 80 mg for the treatment of serious side effects of androgen deprivation therapy for advanced prostate cancer, and second, an ongoing pivotal Phase III clinical trial evaluating toremifene 20 mg for the prevention of prostate cancer in high risk men with high grade prostatic intraepithelial neoplasia, or PIN. In 2006, GTx and Ipsen Group entered into a development and collaboration agreement for toremifene in all indications except breast cancer for Europe and the Commonwealth of Independent States (CIS). GTx has made application for marketing approval and, if approved, plans to commercialize toremifene 80 mg in the United States. In December 2007, GTx and Merck & Co., Inc. formed a collaboration to discover and develop selective androgen receptor modulators (SARMs), a new class of drugs with the potential to treat sarcopenia, which is the loss of skeletal muscle mass resulting in reduced physical strength and ability to perform activities of daily living, cancer cachexia (muscle wasting), as well as other musculoskeletal conditions. Merck and GTx are conducting several Phase I and Phase II clinical trials evaluating multiple SARM product candidates, including Ostarine™ (also designated as MK-2866) for sarcopenia. Merck and GTx are evaluating additional muscle loss indications for potential SARM clinical development. GTx also is developing its preclinical compound GTx-758, an oral luteinizing hormone inhibitor, for advanced prostate cancer.

Forward-Looking Information is Subject to Risk and Uncertainty

This press release contains forward-looking statements based upon GTx's current expectations. Forward-looking statements involve risks and uncertainties. GTx's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the risks that (i) GTx and its collaboration partners will not be able to commercialize their product candidates if clinical trials do not demonstrate safety and efficacy in humans; (ii) GTx may not able to obtain required regulatory approvals to commercialize product candidates; (iii) clinical trials being conducted by GTx and its collaboration partners may not be completed on schedule, or at all, or may otherwise be suspended or terminated; and (iv) GTx could utilize its available cash resources sooner than it currently expects and may be unable to raise capital when needed, which would force GTx to delay, reduce or eliminate its product development programs or commercialization efforts. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. GTx's quarterly report on Form 10-Q filed November 6, 2008 contains under the heading, "Risk Factors,” a more comprehensive description of these and other risks to which GTx is subject. GTx expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.