CEO Dr. Johnson Lau Contracts COVID-19

Rhea-AI Summary

Athenex, Inc. (NASDAQ: ATNX) announced that CEO Dr. Johnson Lau has contracted COVID-19 but is stable and continues to fulfill his duties remotely. He will miss the 39th Annual J.P. Morgan Healthcare Conference, where senior management will still present. Founded in 2003, Athenex focuses on innovative cancer treatments and operates across several platforms, including oncology and global supply chain. The company faces challenges related to drug development, financing, and the impact of the COVID-19 pandemic on its operations.

Positive

• Dr. Johnson Lau remains stable while receiving treatment.
• Senior management will still represent Athenex at the J.P. Morgan Healthcare Conference.

Negative

• Dr. Lau's illness may impact investor confidence and perception of leadership.
• Current operational challenges and reliance on third-party success raised in forward-looking statements.

BUFFALO, N.Y., Jan. 08, 2021 (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, announced that its CEO and Board Chairman, Dr. Johnson Lau, has contracted COVID-19. Dr. Lau is receiving oral and intravenous treatment at a local hospital, and his condition is currently stable. Dr. Lau is communicating with senior management and continues to serve as Athenex’s CEO. Under the advice of his physician, he will not be able to attend the 39^th Annual J.P. Morgan Healthcare Conference. Athenex’s senior management team will continue to participate and present at the 39^th Annual J.P. Morgan Healthcare Conference at its previously scheduled presentation time, and investor one-on-one meetings.

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 drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform, and a Global Supply Chain Platform. The Company’s current clinical pipeline is derived from four different platform technologies: (1) Orascovery, based on P-glycoprotein inhibitor, (2) Src kinase inhibition, (3) T-cell receptor-engineered T-cells (TCR-T), and (4) Arginine deprivation therapy. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. Athenex has offices in Buffalo and Clarence, New York; Cranford, New Jersey; Houston, Texas; Chicago, Illinois; Hong Kong; Taipei, Taiwan; multiple locations in Chongqing, China; Manchester, UK; Guatemala City, Guatemala and Buenos Aires, Argentina. For more information, please visit www.athenex.com.

Forward-Looking Statements

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. These forward-looking statements are typically identified by terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the development stage of our primary clinical candidates and related risks involved in drug development, clinical trials, regulation, manufacturing and commercialization; our reliance on third parties for success in certain areas of Athenex’s business; our history of operating losses and need to raise additional capital to continue as a going concern; uncertainties around our ability to meet funding conditions under our financing agreements and access to capital thereunder; risks and uncertainties related to the COVID-19 pandemic and its potential impact on our operations, cash flow and financial condition; competition; intellectual property risks; risks relating to doing business internationally and in China; the risk of production slowdowns or stoppages or other interruptions at our Chongqing facilities; and the other risk factors set forth from time to time in our SEC filings, copies of which are available for free in the Investor Relations section of our website at http://ir.athenex.com/phoenix.zhtml?c=254495&p=irol-sec or upon request from our Investor Relations Department. All information provided in this release is as of the date hereof and we assume no obligation and do not intend to update these forward-looking statements, except as required by law.

CONTACTS

Investors

Steve Rubis
Athenex, Inc.
Email: stevenrubis@athenex.com

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

Tim McCarthy
LifeSci Advisors, LLC
Email: tim@lifesciadvisors.com

FAQ

What health condition does Dr. Johnson Lau have as of January 8, 2021?

Dr. Johnson Lau, CEO of Athenex, contracted COVID-19 but is currently stable.

Will Athenex participate in the J.P. Morgan Healthcare Conference despite Dr. Lau's illness?

Yes, Athenex's senior management will still present at the conference as scheduled.

What is Athenex's primary focus as a biopharmaceutical company?

Athenex focuses on discovering and commercializing novel therapies for cancer treatment.

What are some challenges mentioned in Athenex's press release?

Challenges include drug development risks, reliance on third parties, and operational impacts from the COVID-19 pandemic.

What is the stock symbol for Athenex?

Athenex is traded under the ticker symbol ATNX.