EXHIBIT 99.1

Contact:
McDavid Stilwell
GTx, Inc.
Manager, Corporate Communications & Financial Analysis
901-523-9700


                     GTX, INC. ANNOUNCES THE APPOINTMENT OF
                  DR. MICHAEL CARTER TO ITS BOARD OF DIRECTORS

MEMPHIS, Tenn., May 9, 2006 -- GTx, Inc., (Nasdaq: GTXI) the Men's Health
Biotech Company, today announced the appointment of Dr. Michael G. Carter to its
Board of Directors. Dr. Carter is being appointed to serve as a director until
GTx's next annual shareholders' meeting in 2007. He will serve as a member of
the Board's Compensation Committee.

"During his career at Zeneca Pharmaceuticals, Dr. Carter developed and directed
the global launch of multiple blockbuster therapies for the treatment of
hormonal cancers," said Mitchell Steiner, M.D., CEO of GTx. "Dr. Carter's
scientific knowledge and his commercial expertise will be a valuable asset to
GTx as we advance toward the commercialization of ACAPODENE and our selective
androgen receptor modulators. We are very pleased to welcome Dr. Carter to our
board of directors."

Dr. Carter received his medical degree from Sheffield University Medical School
and a BPharm degree from the London University School of Pharmacy. He is a
Fellow of the Royal Pharmaceutical Society, of the Royal College of Physicians
of Edinburgh, and of the Faculty of Pharmaceutical Medicine of the Royal College
of Physicians. He has served as a member of the Medicines Commission of the
United Kingdom.

He served on the Pharmaceutical Board of Zeneca Pharmaceuticals, a predecessor
company of AstraZeneca, and held various positions within Zeneca, including
International Marketing Director and International Medical Director. Under his
direction, Zeneca developed and launched numerous drugs including Casodex, the
most widely prescribed anti-androgen for prostate cancer therapy in the U.S.;
Zoladex, an LHRH analogue for prostate cancer and breast cancer; and Arimidex,
the first new generation aromatase inhibitor for breast cancer. Dr. Carter




also contributed to the post-marketing development of tamoxifen, the first
selective estrogen receptor modulator approved for the treatment of breast
cancer.

Dr. Carter currently is a non-executive director of Micromet, Inc.; Santarus,
Inc.; and Fulcrum Pharma, Plc. He is non-executive chairman of Metris
Therapeutics, Ltd., a biotechnology firm specializing in women's healthcare. He
is a member of the Advisory Board of Paul Capital Royalty Fund and is a venture
partner with SV Life Sciences Advisers, LLP.

About GTx

GTx, headquartered in Memphis, Tenn., is a biopharmaceutical company dedicated
to the discovery, development and commercialization of therapeutics for cancer
and serious conditions related to men's health. GTx's lead drug discovery and
development programs are focused on small molecules that selectively modulate
the effects of estrogens and androgens, two essential classes of hormones. GTx
is developing ACAPODENE(R) (toremifene citrate), a selective estrogen receptor
modulator, or SERM, in two separate clinical programs in men: first, a pivotal
Phase III clinical trial for the treatment of serious side effects of androgen
deprivation therapy for advanced prostate cancer, and second, a pivotal Phase
III clinical trial for the prevention of prostate cancer in high risk men with
high grade PIN. GTx also is developing ostarine, a selective androgen receptor
modulator, or SARM, for a variety of indications including muscle wasting and
bone loss in frail elderly patients, osteoporosis, muscle wasting in end stage
renal disease patients, and severe burn wounds and associated muscle wasting.
GTx has licensed to Ortho Biotech Products, L.P., a subsidiary of Johnson &
Johnson, another of its SARMs, andarine, under a joint collaboration and license
agreement.

Forward-Looking Information is Subject to Risk and Uncertainty

This press release contains forward-looking statements based upon GTx's current
expectations. Forward-looking statements involve risks and uncertainties. GTx's
actual results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, the risks that (i) GTx will
not be able to commercialize its product candidates if clinical trials do not
demonstrate safety and efficacy in humans; (ii) GTx may not able to obtain
required regulatory approvals to commercialize its product candidates; (iii)
GTx's clinical trials may not be completed on schedule, or at all, or may
otherwise be suspended or terminated; and (iv) GTx could utilize its




available cash resources sooner than it currently expects and may be unable to
raise capital when needed, which would force GTx to delay, reduce or eliminate
its product development programs or commercialization efforts. You should not
place undue reliance on these forward-looking statements, which apply only as of
the date of this press release. GTx's annual report on form 10-K filed with the
U.S. Securities and Exchange Commission on March 2, 2006, contains a more
comprehensive description of these and other risks to which GTx is subject. GTx
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements are based.