ImaRx Therapeutics Submits Urokinase Data to FDA Supporting Extended Expirat...( Stability Testing ...),Health

Stability Testing Meets Specifications

Results Support Expiration Date Extension

TUCSON, Ariz., Dec. 21 /PRNewswire-FirstCall/ -- ImaRx Therapeutics, Inc. (Nasdaq: IMRX) today announced that it has submitted a lot release request to the Food and Drug Administration (FDA) with extended expiration dating on its inventory of urokinase drug product. Urokinase, ImaRx's first commercially available FDA-approved product, is a thrombolytic or clot-dissolving agent indicated for the treatment of acute massive pulmonary embolism.

The extended expiration dating was based on recent data from the Company's ongoing stability testing program that successfully met all of the required specifications necessary to support extension of the expiration dating of urokinase to between July and September of 2009. This extension would impact all of ImaRx's unlabeled vials of urokinase, which accounted for approximately 71% of the Company's inventory as of September 30, 2007. Based on successful completion of the stability testing ImaRx has submitted a request to the FDA to release one lot of urokinase drug product for commercialization.

"We are pleased to have submitted this lot release with extended expiration dating to the FDA," said Bradford A. Zakes, President and CEO of ImaRx. "Sales of urokinase have enabled the company to offset expenses associated with our clinical-stage development program for ischemic stroke with the revenue generated through product sales. FDA acceptance of our lot release will allow the company to unlock additional value from this asset and continue to commercialize this product."

ImaRx intends to continue its stability program to evaluate the potential for further expiratio
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