GTx, Inc. Announces Release of Second Quarter Financial Results, Conference Call and Webcast

MEMPHIS, Tenn., July 9, 2004—GTx, Inc. (Nasdaq: GTXI), a biopharmaceutical company dedicated to the discovery, development and commercialization of therapeutics primarily related to the treatment of serious men's health conditions, today announced that it will host a conference call and webcast to discuss 2004 second quarter financial results on Thursday, July 29, 2004 at 10:00 a.m., Eastern Time. The call and webcast will follow the release of 2004 second quarter financial results earlier that day.

To listen to the conference call, please dial 877 847-5346 from the United States or Canada or 719 867-0720 from outside North America. A playback of the call will be available on July 29, 2004 from approximately 1:00 p.m., Eastern Time, through August 5, 2004 and may be accessed by dialing 888 203-1112 from the United States or Canada or 719 457-0820 from outside North America, and referencing reservation number 280922. Additionally, you may access the live and subsequently archived webcast of the conference call from the Investor Relations section of our website at www.gtxinc.com.

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.