GTx signs contract with Oncternal Therapeutics
11 March 2019 -

GTx, a biopharmaceutical company, has signed a merger agreement with Oncternal Therapeutics, a clinical-stage biotechnology firm, to create a new publicly-traded and clinical-stage oncology company, it was reported on Friday.

The integrated company will be named Oncternal Therapeutics and will engage in the development of potential first-in-class therapeutic candidates for cancers.

Under the terms of the deal, Oncternal stockholders will own the majority of GTx's common stock. Oncternal Therapeutics shareholders will own 75% of the outstanding shares of common stock of the combined company, while GTx stockholders will hold the remaining 25% of the outstanding shares of common stock.