1. 800. 973.1177
PROFILE
Profile: Karen Ray, Senior Paralegal, GTx, Inc., Memphis, TN [by Regan Morris] Paralegal Karen Ray was hired by GTx, Inc., to help take the company public. LawCrossing speaks with Ray about her legal career and the intensity of launching an IPO.
she may be helping the company in its quest
As a senior paralegal with GTx, Inc., a men’s
to cure cancer.
health biotech company, Ms. Ray wears many
“Within a few months of coming to work for
hats. She helped the cancer research compa-
ResortQuest, I was appointed assistant sec-
ny go public in 2004, and now she adminis-
retary of the company,” she said. “Naturally,
Ray is also secretary of the American Alli-
ters all the company stock options.
I had my hand in everything.”
ance of Paralegals, Inc., a national organiza-
Ray has worked in the legal profession for 20
Her responsibilities included preparing and
She has served on the board of directors of
years and has been a paralegal for 9 years.
filing SEC forms and coordinating the board
the Memphis Paralegal Association from May
She started her career as a receptionist and
meetings and annual meetings.
2000 to September 2004. Ray has also served
tion that focuses on individual paralegals.
as a delegate to the National Federation of
worked as a secretary for several law firms before joining Harrah’s Entertainment.
“I also prepared stock option agreements for
Paralegal Associations since 2000.
employees granted options,” she said. “I was While at Harrah’s, Ray worked as an admin-
also responsible for maintaining the subsid-
“As far back as I can remember, I’ve always
istrator and coordinator for 10 years before
iary records and drafting minutes for all the
been interested in the legal profession. I can
moving into a paralegal position. By that
subsidiaries, as well as drafting the board
remember coming home from school and
time, she had earned her paralegal certifi-
and committee minutes.”
turning the TV on just to watch Perry Mason,” she said.
cate and loved her job. But Harrah’s, a gaming company, relocated to the gaming capital
Although ResortQuest also relocated out
of Las Vegas, and Ray was out of a job.
of state, Ray’s experience there made her
Ray said she was inspired to attend paralegal
uniquely qualified to help GTx with its initial
school because she realized her options for
Networking, she said, helped her land on
public offering. A contact through the Mem-
growth were limited as a secretary. She said
her feet. As an active member of local and
phis Paralegal Association knew about her
she prefers working in the corporate world to
national paralegal associations, Ray knew
experience with SEC reporting and filings
law firms.
where to look for work.
and told her about the opportunity at GTx. She jumped at the chance.
“I just feel like I get more fulfilled with this job and there is always something happen-
“I can’t stress enough to new paralegals to join their local paralegal associations and
“We had to pull every company document
ing, something going on,” she said. “You just
become involved. Not only will they have fun
during due diligence review for outside coun-
change priorities on a dime.”
and learn a lot, they will have a great oppor-
sel to review, and some of the material docu-
tunity for networking,” she said. “I really be-
ments were filed with the SEC,” she said,
lieve networking is the key to success for all
adding that the legal department has now
its offering price of $14.50, the company’s
paralegals. Every time I found myself without
increased to four people. Ray and the general
fortunes could change if the researchers
a job, by networking with other paralegals,
counsel were the only legal staff during the
develop a breakthrough drug that could save
I was able to find new employment almost
IPO, but now the company also employs a
or prolong the lives of men with cancer. If
immediately.”
contract paralegal and an associate general
that happens, Ray and her colleagues will be
counsel for clinical trials.
much richer.
International Paper Company and then later
Working at GTx is doubly fulfilling, she said,
“I hope so,” Ray said.
at ResortQuest International, Inc., a resort
because it’s a fast-paced corporate setting
property management company.
and there is the additional bonus of knowing
And while GTx’s stock price has dipped from
Ray found work as a corporate paralegal at
PAGE