GTx, Inc. to Present at the 24th Annual SG Cowen Healthcare Conference

Memphis, Tenn.— March 5 - GTx, Inc. (Nasdaq: GTXI), a biopharmaceutical company dedicated to the development and commercialization of therapeutic products for men's health, today announced that the Company is scheduled to present at the 24th Annual SG Cowen Healthcare Conference on Tuesday, March 9, 2004. Mitchell Steiner, M.D., Vice Chairman and CEO of GTx, Inc. will give a corporate update at both 3:30 and 4:30 PM, Eastern Time, at the Boston Marriott Copley Place.

To access the live audio broadcast or the subsequent archived recording, visit the Company's website at http://www.gtxinc.com. The live broadcast will be archived for 15 days.

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) a Phase IIb clinical trial for the reduction in the incidence of prostate cancer in men with precancerous prostate lesions and (2) a pivotal Phase III clinical trial for the treatment of serious side effects of advanced prostate cancer therapy. GTx is initially developing its second product candidate, Andarine, for the treatment of muscle wasting weight loss, or cachexia, which occurs from various types of cancer.

This press release contains forward-looking statements that involve risks and uncertainties, and actual events or results may differ materially. These risk factors include actions by the U.S. Food and Drug Administration, technological advances, ability to obtain rights to technology, ability to obtain and enforce patents, ability to commercialize and manufacture products and general economic conditions. These and additional risk factors are identified in the Company's final prospectus files with the Securities and Exchange Commission filed on February 3, 2004, and in other SEC filings. GTx expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein in order to reflect events or circumstances that may arise after the date of this release.