Athenex Announces Receipt of Positive Nasdaq Listing Determination

Rhea-AI Summary

Athenex, Inc. (NASDAQ: ATNX) has received approval from a Nasdaq Hearings Panel to maintain its listing, contingent on meeting the minimum bid price requirement of $1.00 per share by March 14, 2023. The company's common stock must close at or above $1.00 for at least 10 consecutive business days within this timeframe. As a biopharmaceutical company focused on cancer therapies, Athenex aims to enhance treatment accessibility and tolerance for patients.

Positive

• Nasdaq panel approves continued listing, providing Athenex more time to meet compliance requirements.

Negative

• Company must achieve a minimum bid price of $1.00 by March 14, 2023, or risk delisting.

Nasdaq Hearing Panel grants continued listing of Athenex and extension to regain compliance with the minimum bid price requirement

BUFFALO, N.Y., Nov. 03, 2022 (GLOBE NEWSWIRE) --  Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, today announced that a Nasdaq Hearings Panel has granted the company's request for continued listing on The Nasdaq Stock Market, subject to the Company’s satisfaction of the minimum $1.00 bid price requirement by March 14, 2023.

To evidence compliance with the minimum bid price requirement, the Company’s common stock must close at or above $1.00 per share for a minimum of 10 (but generally not more than 20) consecutive business days by March 14, 2023.

About Athenex, Inc.

Founded in 2003, Athenex, Inc. is a global clinical-stage biopharmaceutical company dedicated to becoming a leader in the discovery, development, and commercialization of next generation cell therapy drugs for the treatment of cancer. In pursuit of this mission, Athenex leverages years of experience in research and development, clinical trials, regulatory standards, and manufacturing. The Company’s current clinical pipeline is derived mainly from the following core technologies: (1) Cell therapy, based on NKT cells and (2) Orascovery, based on a P-glycoprotein inhibitor. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active, accessible, and tolerable treatments. For more information, please visit www.athenex.com.

Athenex Contacts

Daniel Lang, MD
Athenex, Inc.
Email: danlang@athenex.com

FAQ

What is the status of Athenex's listing on Nasdaq?

Athenex has been granted a continued listing on Nasdaq, pending compliance with minimum bid price requirements.

What is the deadline for Athenex to meet the bid price requirement?

Athenex must meet the minimum bid price by March 14, 2023.

What are the conditions for Athenex to maintain its Nasdaq listing?

Athenex's stock must close at or above $1.00 for at least 10 consecutive business days.

What is the ticker symbol for Athenex?

Athenex's stock is traded under the ticker symbol ATNX.