Semi-Annual Changes to the NASDAQ Biotechnology Index

NEW YORK, Nov. 12 /PRNewswire/ -- The Nasdaq Stock Market, Inc. (NASDAQ(R)) (OTC Bulletin Board: NDAQ) announced today the results of the semi-annual re-ranking of the NASDAQ Biotechnology Index(R) (Nasdaq: NBI), which will become effective with the market open on Monday, November 22, 2004.

The re-ranking will result in 11 securities being added to the Index. All securities are classified according to the FTSE Global Classification System(TM) as biotechnology or pharmaceutical. The securities that meet the classification criteria then must meet other Index eligibility criteria including listing on the NASDAQ National Market and meeting minimum requirements for market value, average daily share volume and seasoning as a public company. The Index is ranked on a semi-annual basis in May and November. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit http://www.NASDAQ.com.

All securities being added to the Index will be phased into NASDAQ's Opening Cross effective Tuesday, November 16, 2004.

As a result of the re-ranking, Biopure Corporation (Nasdaq: BPUR) and IDEXX Laboratories, Inc. (Nasdaq: IDXX) will be removed from the Index.

The NASDAQ Biotechnology Index is the basis for the iShares Nasdaq Biotechnology Index(SM) Fund (Amex: IBB), which seeks investment results that generally correspond to the price and yield performance of the NASDAQ Biotechnology Index before fees and expenses. In addition, options based on the NASDAQ Biotechnology Index and the iShares Nasdaq Biotechnology Index Fund trade on various exchanges.

Company Briefs

GTx, Inc. (Nasdaq: GTXI) discovers, develops, and commercializes therapeutics primarily related to the treatment of serious men's health conditions. The company's drug discovery and development programs are focused on small molecules that selectively modulate the effects of estrogens and androgens, two essential classes of hormones. GTx is currently developing products for prostate cancer.

Bone Care International, Inc. (Nasdaq: BCII) is a pharmaceutical company that discovers, develops and commercializes improved vitamin D-hormone therapies. The company's therapies treat secondary hyperparathyroidism in patients with kidney disease, osteoporosis, psoriasis, and certain cancers.

Bioenvision, Inc. (Nasdaq: BIVN) is a biopharmaceutical company primarily focused on the research and development of products and technologies for the treatment of cancer. The company also performs research on anti-immune diseases.

Corgentech Inc. (Nasdaq: CGTK) is a biopharmaceutical company that discovers, develops, and commercializes therapeutics called transcription factor decoys, or TF decoys. The company focuses on TF decoys for the treatment of cardiovascular disease, inflammatory disease, and cancer.

Cytokinetics, Incorporated (Nasdaq: CYTK) is a biopharmaceutical company that combines life sciences and information technologies to accelerate and enhance the productivity of drug discovery and development. The company focuses on the novel small molecule drugs that specifically target the cytoskeleton, a complex, dynamic framework that impacts all aspects of cell functions.

Discovery Laboratories, Inc. (Nasdaq: DSCO) is a biopharmaceutical company that develops and commercializes medically novel therapeutics for critical care. The company is focusing on diseases of the lung, with initial emphasis on the treatment of neonatal conditions. Discovery is also developing pharmaceuticals to treat acute respiratory distress syndrome/acute lung injury and cystic fibrosis.

Eyetech Pharmaceuticals, Inc. (Nasdaq: EYET) is a biopharmaceutical company that develops and commercializes novel therapeutics to treat diseases of the eye. The company's initial focus is on diseases affecting the back of the eye, particularly the retina. Eyetech is developing a product for the treatment of the wet form of age-related macular degeneration, and for diabetic macular edema.

NitroMed, Inc. (Nasdaq: NTMD) is a pharmaceutical company that discovers, develops, and seeks to commercialize proprietary pharmaceuticals based on the therapeutic benefits of the naturally occurring molecule nitric oxide. The company's research and development efforts focus on major diseases that are characterized by a deficiency in nitric oxide, such as cardiovascular and inflammatory diseases.

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) discovers and develops novel, small molecule drugs in four lead product development programs: allergy/asthma, autoimmune disorders, hepatitis C, and cancer.

Santarus, Inc. (Nasdaq: SNTS) is a pharmaceutical company focused on acquiring, developing, and commercializing proprietary products for the prevention and treatment of gastrointestinal diseases and disorders. The primary focus of the company is the development and commercialization of next generation proton pump inhibitor-PPI products.

Third Wave Technologies, Inc. (Nasdaq: TWTI) provides products used in the analysis of genetic variations. The company's genetic analysis platform, the Invader Operating System, includes tests for genetic mutations associated with immune response, drug metabolism, and predisposition to blood clots. The company's tests may be used for diagnosis and patient treatment or for drug discovery and development.

About GTx
GTx is a biopharmaceutical company dedicated to the discovery, development and commercialization of therapeutics primarily related to the treatment of serious men's health conditions. GTx's drug discovery and development programs are focused on small molecules that selectively modulate the effects of estrogens and androgens. GTx currently has two product candidates that are in human clinical trials. The company is developing ACAPODENE™, its most advanced product candidate, through clinical trials for two separate indications: (1) its now completed Phase IIb clinical trial for the reduction in the incidence of prostate cancer in high risk men with precancerous prostate lesions and planned initiation of a Phase III clinical trial (2) a pivotal Phase III clinical trial for the treatment of serious side effects of advanced prostate cancer therapy. GTx is developing its second product candidate, andarine, and other specified backup compounds, with its partner, Ortho Biotech Products, L.P., a subsidiary of Johnson & Johnson. It is currently anticipated that andarine will be entering a planned Phase II clinical trial later this year. GTx retains all rights to the discovery, development, and commercialization of the rest of its SARM program including its other specific product candidates ostarine, prostarine and andromustine.

Forward Looking Statement
This press release contains forward-looking statements, including, without limitation, statements related to GTx's current and anticipated clinical trials and research and development programs. These forward-looking statements are 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, risks that neither GTx nor its partner will be able to commercialize its product candidates if preclinical studies do not produce successful results or clinical trials do not demonstrate safety and efficacy in humans; if third parties do not manufacture the Company's product candidates in sufficient quantities and at an acceptable cost, clinical development and commercialization of its product candidates would be delayed; use of third-party manufacturers may increase the risk that the Company will not have adequate supplies of its product candidates; if third parties on whom the Company relies do not perform as contractually required or expected, the Company may not be able to obtain regulatory approval for or commercialize its product candidates; the Company is dependent upon collaborative arrangements to complete the development and commercialization of some of its product candidates, and these collaborative arrangements may place the development of its product candidates outside its control, may require it to relinquish important rights or may otherwise be on terms unfavorable to the Company; and if the Company is not able to obtain required regulatory approvals, the Company will not be able to commercialize its product candidates. The annual report filed on Form 10-K with the U.S. Securities and Exchange Commission on March 26, 2004 contains under the heading "Additional Factors That Might Affect Future Results" 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.