ATNX - ATNX STOCK NEWS

Athenex, Inc. (NASDAQ: ATNX) has signed a definitive agreement to sell revenues from U.S. and European royalty interests in Klisyri® for $85 million. This deal aims to extend the company's cash runway by over 18 months, with approximately $80 million allocated for debt reduction and operational funding. CEO Dr. Johnson Lau highlighted the transaction as part of a strategy to monetize non-core assets while focusing on their NKT cell therapy platform. The transaction is subject to customary closing conditions.

Athenex, Inc. (NASDAQ: ATNX) announced the appointment of Dr. Darrel P. Cohen as Chief Medical Officer of Cell Therapy, succeeding Kurt Gunter, who has left for other opportunities. Dr. Cohen brings over 25 years of oncology research experience and has played key roles in the development of several cancer drugs. CEO Dr. Johnson Lau expressed excitement over Dr. Cohen's leadership as Athenex focuses on advancing its innovative NKT cell therapy platform. The transition reflects the company's commitment to improving cancer treatment and gaining regulatory approvals.

Athenex, Inc. (NASDAQ: ATNX) announced a collaboration with Merck to support the expansion phase of a Phase 1 clinical trial. This phase evaluates Athenex's oral paclitaxel in combination with Merck’s KEYTRUDA® for non-small cell lung cancer (NSCLC) patients. The trial aims to further explore the encouraging preliminary results from the KX-ORAX-011 trial. A Joint Development Committee will be formed to review these results as the expansion cohort actively recruits around 50 participants who have progressed on previous therapies.

Athenex, Inc. (NASDAQ: ATNX) reported a robust 42% increase in product sales for Q1 2022, reaching $29.0 million, attributed to strong performance in its Athenex Pharmaceutical Division. An encouraging interim update from the ANCHOR study showed a 60% overall response rate for KUR-502. The company has reduced R&D and SG&A expenses by 39% and 28%, respectively. Athenex raised its full-year product revenue guidance to 20-25% growth. However, the net loss narrowed to $17.4 million, or $0.16 per diluted share, compared to $25.1 million, or $0.27 per diluted share in Q1 2021.

Athenex (NASDAQ: ATNX) announces promising results from the KUR-501 trial, presented at the ASGCT 25th Annual Meeting. The trial demonstrated a 25% Overall Response Rate (ORR) in patients with relapsed/refractory neuroblastoma, with a Disease Control Rate (DCR) of 58%. Notably, a durable Complete Response was observed in one patient lasting 12 months. The therapy was well tolerated, with no severe toxicities reported. The study aims to validate CAR-NKT cell therapy targeting GD2 in high-risk neuroblastoma and is ongoing at Texas Children’s Cancer Center and Baylor College of Medicine.

Athenex (NASDAQ: ATNX), a biopharmaceutical company focused on cancer treatments, will provide a corporate and financial update for Q1 2022 on May 10, 2022, before market opens. The management team will host a conference call and audio webcast at 8:00 a.m. ET. Investors can participate via domestic and international phone lines or through the company's Investor Relations website. Athenex specializes in developing next-generation cell therapy drugs and operates a clinical pipeline that includes cell therapy, Orascovery, and Src Kinase Inhibition technologies.

Athenex announced encouraging data from the ANCHOR Phase 1 study of KUR-502, involving seven evaluable patients with hematological malignancies. The study reported a six-month complete response rate of 29%, with one ongoing complete response at 34 weeks. An overall response rate of 57% and a disease control rate of 71% were observed, including responses in patients previously treated with autologous CAR-T therapy. The treatment was well tolerated, with only mild cytokine release syndrome reported. Athenex aims to expand the study and provide further updates later this year.

Athenex, Inc. (NASDAQ: ATNX) announced a strategic pivot to focus on cell therapy, receiving FDA clearance for an IND to expand its CD19 CAR-NKT ANCHOR study to multiple centers. The company plans to cut operating expenses by over 50% and monetize non-core assets to extend its cash runway into 2022. In Q4 2021, product sales increased by 8% to $23.5 million, but full-year sales dropped by 12% to $92.3 million. Athenex reported a net loss of $199.8 million for 2021, significantly higher than in 2020, alongside plans for future product launches and clinical data presentations.