GTx Inc. sold 1,501,501 common shares for gross proceeds of about $25 million.

The shares were sold pursuant to the at-the-market equity offering sales agreement with Stifel Nicolaus & Co. Inc., dated Feb. 9.

Following these sales, the Memphis, Tenn.-based biopharmaceutical company may offer and sell additional common shares of up to $25 million from time to time through Stifel.