Myrexis Suspends Development Activity on All Programs

Myrexis(Nasdaq: MYRX), today provided an update on recent developments and reportedresults for its fiscal full year ended June 30, 2012.In February 2012, the Company announced that it had suspended developmentactivity on all of its preclinical and clinical programs and retained StifelNicolaus Weisel, an investment banking firm, to assist in reviewing andevaluating a full range of strategic alternatives to enhance shareholdervalue. Thereafter, in March 2012, the Company initiated an alignment of itsresources involving a phased reduction in its workforce from approximately 59employees to 10 current employees.Based on the Company's evaluation of strategic alternatives, it determined topursue the acquisition of one or more commercial-stage biopharmaceuticalassets, with the goal of building a commercial-stage biopharmaceutical companyby optimizing their performance and profitability. Integral to these efforts,on May 11, 2012, the Company announced a change in management, including theappointment of Richard B. Brewer as President and Chief Executive Officer andDavid W. Gryska as Chief Operating Officer, collectively bringing an extensivetrack record of commercializing, acquiring and marketing pharmaceuticalproducts throughout their careers. In addition, both Mr. Brewer and Mr. Gryskawere appointed as members of the Board of Directors.On August 15, 2012, the Company announced the death of Richard B. Brewer, itsPresident and Chief Executive Officer. The Board of Directors appointed DavidW. Gryska as the acting President and Chief Executive Officer whileconsidering succession plans. In addition, the Board of Directors is furtherevaluating its strategic direction in light of this development and theCompany's progress to date in identifying attractive biopharmaceutical assets