Replies to post #220978 on Biotech Values

[hptaxis]

SARM Fail ... Won't be the last.

[DewDiligence]

GTXI reverse-merges into Oncternal Therapeutics (private):

https://www.businesswire.com/news/home/20190307005220/en/GTx-Oncternal-Therapeutics-Enter-Definitive-Merger-Agreement

Immediately following the closing of the transaction, the former stockholders of Oncternal will hold approximately 75% of the outstanding shares of common stock of the combined company.

In addition to retaining an ownership interest representing approximately 25% of the outstanding shares of common stock of the combined company, the GTx stockholders of record as of immediately prior to the effective time of the merger will receive non-transferable contingent value rights (“CVR”) entitling the holders to receive in the aggregate 50% of any net proceeds derived from the grant, sale or transfer of rights to SARD or selective androgen receptor modulator (SARM) technology during the term of the CVR and, if applicable, to receive royalties on the sale of any SARD products by the combined company during the term of the CVR.

Upon closing of the transaction, GTx will be renamed Oncternal Therapeutics, Inc. and will be headquartered in San Diego, California under the leadership of Oncternal’s current management team… and plans to change its ticker symbol on the Nasdaq Capital Market to ONCT…

GTXI is +91%/PM. CC at 8:30am ET.