NERX Neorx (MM)

SEATTLE, May 3 /PRNewswire-FirstCall/ -- NeoRx Corporation (NASDAQ:NERX) today announced that it will hold a conference call to provide a corporate update, including an update on the clinical development plan for picoplatin, the Company's lead product candidate. Jerry McMahon, Ph.D., chairman and chief executive officer of NeoRx, will host the call beginning at 1:00 p.m. Eastern time (10:00 a.m. Pacific time) on Wednesday, May 10, 2006. Last week, the Company announced that it had completed a $65 million financing, which will provide resources to advance the picoplatin development program. Picoplatin is a new generation platinum therapy that provides a differentiated spectrum of activity, reduced reactivity and an improved safety profile. An intravenous chemotherapeutic agent, picoplatin is designed to overcome platinum resistance associated with the treatment of solid tumors. Currently, picoplatin is being studied in a Phase 2 clinical trial in patients with small cell lung cancer at clinical sites in North America and Eastern Europe. Testing in more than 500 patients in Phase 1 and 2 safety and efficacy studies has indicated that picoplatin has a more manageable safety profile with fewer side effects than currently available platinum-based therapies. Teleconference/Webcast Details To participate in the live call by telephone, please dial 888-396-2369 from the U.S. or 617-847-8710 for international callers and enter passcode 27340826. A telephone replay will be available for seven days following the conclusion of the call by dialing 888-286-8010 from the U.S. or 617-801-6888 for international callers and entering passcode 33279470. In addition, the live conference call is being webcast and can be accessed at NeoRx's website at http://www.neorx.com/. A recording of the call will be available on the Company's website for seven days following the completion of the call. About NeoRx NeoRx is a specialty pharmaceutical company dedicated to the discovery, development and commercialization of oncology drugs that impact the lives of individuals afflicted with cancer. The Company currently is focusing its development efforts on picoplatin, a new generation platinum therapy that provides a differentiated spectrum of activity, reduced reactivity and an improved safety profile. An intravenous chemotherapeutic, picoplatin is designed to overcome multiple mechanisms of platinum-based chemoresistance. NeoRx also is collaborating with the Scripps Florida Research Institute on the discovery of novel, small-molecule, multi-targeted protein kinase inhibitors for the treatment of cancer. For more information, visit http://www.neorx.com/. This release contains forward-looking statements, including statements regarding the Company's business model, drug development programs and clinical trial plans. The Company's actual results may differ materially from those indicated in these forward looking statements based on a number of factors, including anticipated operating losses, uncertainties associated with research, development, testing and related regulatory approvals, future capital needs and uncertainty of additional financing, competition, uncertainties associated with intellectual property, dependence on third-party manufacturers, suppliers and collaborators, lack of sales and marketing experience, loss of key personnel, uncertainties associated with market acceptance, technology change and government regulation, and the other risks and uncertainties described in the Company's current and periodic reports filed with the Securities and Exchange Commission, including NeoRx's Annual Report on Form 10-K for the year ended December 31, 2005. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statement to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. DATASOURCE: NeoRx Corporation CONTACT: Julie Rathbun, Corporate Communications, of NeoRx Corporation, +1-206-286-2517, or Web site: http://www.neorx.com/

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