MEMPHIS, Tenn.--(BUSINESS WIRE)--GTx, Inc. (Nasdaq: GTXI), today reported financial results for the fourth quarter and year ended December 31, 2007. The net loss for the three months and year ended December 31, 2007 was $12.8 million and $40.4 million, respectively, compared with a net loss of $4.7 million and $35.5 million for the same periods in 2006. At December 31, 2007, GTx had cash and cash equivalents and short-term investments of $110 million. Subsequent to the end of the quarter, GTx received $40 million from Merck & Co., Inc. (Merck) representing the payment of the upfront license fee for the recently announced global strategic collaboration for selective androgen receptor modulators (SARMs).
