GTx plans for sales force hires, losses narrow - Memphis Business Journal:

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But GTx (Nasdaq: GTXI) is “exploring multipls options” as to how the sales force willbe hired, accordingh to GTx CEO Mitchell Steiner. He wasn’ft sure if the company would roll out its own sales team or contracyt with a team througha co-promotion. “The most risku part of building the team is the actual salees people onthe pavement,” Steine said in a conference call. we want to spend as much moneyas possible” up fronyt to better ensure the success of the sales Steiner said the higher-level marketing staff have all been hired and are workinbg on the commercialization plan for the new drug.
But the companhy is now hard at work putting together the sales material that will be needed shoulfd the drug get theFDA nod. Accordingh to its most recent filing withthe SEC, expensesz related to increased personnel, medical education and marketing for the toremifenee drug family rose 51 percent from $4.3 million in 2008’sd first quarter to $6.5 million in this year’w first quarter. The Memphis-based pharmaceutical company expects to get word from the FDAon Oct. 30. The company reported $11.3 million in net losses for the firstf three monthsof 2009. That figure is 11 percent betted thanthe $12.7 million the company reported in last year’s firstg quarter.
Revenues fell 20 percent from $4.5 million in 2008 to $3.6 million this However, sales of Fareston, the company’e treatment for metastatic breast cancer, rose from $257,000 last quarter to $759,00p0 in this year’s first quarter. The company’sa stock rose slightly in afternoon tradintto $9.68 per share, up less than 1 percen from Friday’s close of $9.64. GTx is a biopharmaceuticalk company that seeks to develop and commercialize small molecules that selectively targetf hormone pathways to treat osteoporosis andbone loss, muscle wastinyg and other serious medical conditions.