Myrexis, Inc. Appoints Jonathan M. Couchman as Class II Director, President and Chief Executive Officer; Declares Special Cash Distribution
January 23, 2013 at 09:00 am EST
Share
Myrexis, Inc. appointed Jonathan M. Couchman as a Class II director of the company and as its President and Chief Executive Officer, and the remaining members of the Board have resigned. The company, under the leadership of Mr. Couchman, will continue its evaluation of strategic alternatives. Jonathan M. Couchman serves as Chairman of the Board, Chief Executive Officer and Chief Financial Officer of Xstelos Holdings, Inc. and previously served as Director of Golf Trust of America, during its evaluation of strategic alternatives.
The company's board of directors has declared a special cash distribution to shareholders in the amount of $2.86 per share. The special cash distribution will be paid to shareholders of record at the close of business on February 4, 2013, the record date, as soon as practicable after such date.
Myrexi, Inc. is a development-stage company. The Company was a biopharmaceutical company that generated a pipeline of differentiated drug candidates in oncology and autoimmune diseases. In February 2012, it announced that the Company has suspended development activity on all of its preclinical and clinical programs and retained Stifel Nicolaus Weisel, an investment banking firm, to assist in reviewing and evaluating a full range of strategic alternatives to enhance shareholder value. The Company determines to pursue the acquisition of one or more commercial-stage biopharmaceutical assets, with the goal of building a commercial-stage biopharmaceutical company. The Company operates in pharmaceutical development and related research activities. The Companyâs revenues were derived from research performed in the United States and, all of the Companyâs long-lived assets are located in the United States.
MYREXIS, INC. 
