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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

GTX, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of Merger

March 7, 2019

WILMINGTON, Del.--(BUSINESS WIRE)--Mar 7, 2019--Rigrodsky & Long, P.A.:

  • Do you own shares of GTx, Inc. (NASDAQ CM: GTXI )?
  • Did you purchase any of your shares prior to March 7, 2019?
  • Do you think the proposed merger is fair?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of GTx, Inc. (“GTx” or the “Company”) (NASDAQ CM: GTXI ) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to merge with Oncternal Therapeutics, Inc. (“Oncternal”). Under the terms of the agreement, current GTx stockholders will own approximately 25% of the combined company. In addition, 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 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. The combined company is expected to trade on the NASDAQ Capital Market under a new ticker symbol, “ONCT.”

If you own common stock of GTx and purchased any shares before March 7, 2019, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra toll-free at (888) 969-4242, by e-mail at info@rl-legal.com, or at https://www.rigrodskylong.com/offices-contact.

Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.

Attorney advertising. Prior results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190307005900/en/

CONTACT: Rigrodsky & Long, P.A.

Seth D. Rigrodsky

Gina M. Serra

(888) 969-4242

(302) 295-5310

Fax: (302) 654-7530

info@rl-legal.com

http://www.rigrodskylong.com

KEYWORD: UNITED STATES NORTH AMERICA DELAWARE NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Rigrodsky & Long, P.A.

Copyright Business Wire 2019.

PUB: 03/07/2019 06:05 PM/DISC: 03/07/2019 06:05 PM

http://www.businesswire.com/news/home/20190307005900/en