o\ue000 Written\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 425\ue000 under\ue000 the\ue000 Securities\ue000 Act\ue000 (17\ue000 CFR\ue000 230.425)
o\ue000 Soliciting\ue000 material\ue000 pursuant\ue000 to\ue000 Rule\ue000 14a-12\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.14a-12)
o\ue000 Pre-commencement\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 14d-2(b)\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.14d-2(b))
o\ue000 Pre-commencement\ue000 communications\ue000 pursuant\ue000 to\ue000 Rule\ue000 13e-4(c)\ue000 under\ue000 the\ue000 Exchange\ue000 Act\ue000 (17\ue000 CFR\ue000 240.13e-4(c))

ImaRx\ue000 Press\ue000 and\ue000 Investor\ue000 Contact:
Julie\ue000 Rathbun
Rathbun\ue000 Communications

Clinical\ue000 findings\ue000 presented\ue000 by\ue000 Carlos\ue000 A.\ue000 Molina,\ue000 M.D.,\ue000 Stroke\ue000 Neurologist\ue000 from\ue000 Vall\ue000 d\u2019Hebron\ue000 Hospital\ue000 in\ue000 Barcelona,\ue000 Spain\ue000 and\ue000 Andrei
Alexandrov,\ue000 M.D.,\ue000 Director\ue000 of\ue000 the\ue000 University\ue000 of\ue000 Alabama\u2019s\ue000 Comprehensive\ue000 Stroke\ue000 Center,\ue000 demonstrated\ue000 that\ue000 patients\ue000 may\ue000 be\ue000 safely
treated\ue000 with\ue000 TCD\ue000 in\ue000 combination\ue000 with\ue000 a\ue000 specific\ue000 dose\ue000 of\ue000 microspheres\ue000 and\ue000 tPA,\ue000 a\ue000 therapy\ue000 called\ue000 SonoLysis.\ue000 Clinical\ue000 results\ue000 from\ue000 the
study\ue000 also\ue000 indicated\ue000 that\ue000 those\ue000 study\ue000 patients\ue000 receiving\ue000 SonoLysis\ue000 treatment\ue000 were\ue000 two\ue000 times\ue000 more\ue000 likely\ue000 to\ue000 have\ue000 complete\ue000 clearing\ue000 of
blocked\ue000 arteries\ue000 (recanalization)\ue000 than\ue000 those\ue000 study\ue000 patients\ue000 receiving\ue000 tPA\ue000 alone.\ue000 SonoLysis\ue000 therapy,\ue000 developed\ue000 by\ue000 ImaRx\ue000 Therapeutics,
leverages\ue000 the\ue000 energy\ue000 from\ue000 ultrasound\ue000 waves\ue000 to\ue000 cavitate\ue000 tiny\ue000 gas-filled\ue000 lipid\ue000 microspheres\ue000 within\ue000 stroke-causing\ue000 blockages\ue000 to\ue000 reopen
arteries\ue000 and\ue000 restore\ue000 blood\ue000 flow.

\u201cThese\ue000 findings\ue000 demonstrate\ue000 that\ue000 ultrasound\ue000 combined\ue000 with\ue000 microspheres\ue000 and\ue000 tPA\ue000 can\ue000 be\ue000 tested\ue000 further\ue000 in\ue000 a\ue000 pivotal\ue000 clinical\ue000 trial\ue000 with the\ue000 goal\ue000 to\ue000 provide\ue000 a\ue000 more\ue000 effective\ue000 treatment\ue000 option\ue000 for\ue000 stroke\ue000 patients\ue000 by\ue000 promoting\ue000 faster\ue000 clearing\ue000 of\ue000 blocked\ue000 blood\ue000 vessels\ue000 as\ue000 well as\ue000 improved\ue000 patient\ue000 outcomes,\u201d\ue000 said\ue000 Dr.\ue000 Alexandrov.\ue000 \u201cIt\u2019s\ue000 very\ue000 promising\ue000 to\ue000 see\ue000 such\ue000 results,\ue000 which\ue000 support\ue000 the\ue000 potential\ue000 of\ue000 this therapy\ue000 as\ue000 a\ue000 more\ue000 effective\ue000 and\ue000 expansive\ue000 therapy\ue000 for\ue000 stroke\ue000 patients.\u201d

The\ue000 multi-center,\ue000 randomized,\ue000 dose-ranging\ue000 trial\ue000 involving\ue000 35\ue000 patients\ue000 evaluated\ue000 2\ue000 separate\ue000 doses\ue000 of\ue000 ImaRx\u2019s\ue000 MRX-801\ue000 microspheres. Cohort\ue000 I\ue000 and\ue000 Cohort\ue000 II\ue000 patients\ue000 received\ue000 1.4\ue000 mL\ue000 and\ue000 2.8\ue000 mL\ue000 of\ue000 microspheres\ue000 respectively.\ue000 Control\ue000 patients\ue000 received\ue000 the\ue000 standard\ue000 dose\ue000 of tPA\ue000 alone.

Sustained\ue000 complete\ue000 recanalization\ue000 rates\ue000 at\ue000 the\ue000 end\ue000 of\ue000 36\ue000 hours\ue000 were\ue000 achieved\ue000 in\ue000 67\ue000 percent\ue000 of\ue000 the\ue000 Cohort\ue000 I\ue000 patients,\ue000 46\ue000 percent\ue000 of\ue000 the
Cohort\ue000 II\ue000 patients,\ue000 and\ue000 33\ue000 percent\ue000 of\ue000 the\ue000 patients\ue000 that\ue000 received\ue000 tPA\ue000 only\ue000 (controls)\ue000 (p=0.255).\ue000 In\ue000 addition,\ue000 the\ue000 median\ue000 time\ue000 to\ue000 any
recanalization\ue000 tended\ue000 to\ue000 be\ue000 faster\ue000 in\ue000 the\ue000 Cohort\ue000 I\ue000 patients\ue000 (30\ue000 min,\ue000 interquartile\ue000 range\ue000 6)\ue000 compared\ue000 to\ue000 60\ue000 minutes\ue000 (interquartile\ue000 range\ue000 5)\ue000 in
control\ue000 patients.\ue000 Mean\ue000 TIBI\ue000 scores\ue000 were\ue000 higher\ue000 for\ue000 subjects\ue000 who\ue000 received\ue000 1.4\ue000 mL\ue000 MRX-801\ue000 than\ue000 for\ue000 subjects\ue000 who\ue000 received\ue000 control
treatment\ue000 at\ue000 time\ue000 points\ue000 30\ue000 minutes\ue000 (p\ue000 =\ue000 0.0075),\ue000 60\ue000 minutes\ue000 (p\ue000 =\ue000 0.0122),\ue000 and\ue000 90\ue000 minutes\ue000 (p\ue000 =\ue000 0.0700)\ue000 after\ue000 initiation\ue000 of\ue000 study\ue000 treatment.