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Athenex, Inc. (ATNX) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, December 31, 2022

Athenex, Inc.

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CIK: 1300699 Ticker: ATNX

Exhibit 99.1

Athenex Provides Fourth Quarter and Full Year 2022 Financial Results and

Business Update

Exploring a range of strategic alternatives

Revenues from product sales from continued operations increased +27% Y/Y in 4Q 2022 and

+33% for full year 2022

Net Loss attributable to Athenex was $34.2 million, or $4.28 per diluted share in 4Q2022,

compared to $104.4 million, or $19.08 per diluted share, in the prior year quarter

Cash, cash equivalents, and restricted cash balance of $35.6 million at year end

Additional Phase 1 dose escalation study safety and preliminary efficacy data for

KUR-502 CAR-NKT cell therapy product anticipated in 2H 2023

Phase 1 GINAKIT2 study of KUR-501 on clinical hold; pending serious adverse event

investigation and safety risk mitigation planning to reopen clinical trial

Graduation of Oral Paclitaxel combination regimen in the neoadjuvant triple-negative breast

cancer treatment subgroup of I-SPY 2 trial

Buffalo, N.Y., March 20, 2023 (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 provided a corporate and financial update for the fourth quarter and full year ended December 31, 2022.

“In 2022, we focused on executing our strategic vision to advance our differentiated NKT cell therapy platform and reported positive clinical data for our two lead investigational CAR-NKT cell therapy products in both neuroblastoma and non-Hodgkin lymphoma,” said Dr. Johnson Lau, Chief Executive Officer of Athenex. “In addition, we made significant progress in monetizing company assets during the year, in line with our planned strategy. In 2023, we are pursuing a broader range of strategic alternatives while remaining focused on improving our balance sheet as we continue to advance our promising clinical development programs.”

Fourth Quarter 2022 and Recent Business Highlights

Corporate Updates:

 

  •  

Closed the sale of China API business

 

  •  

Ended the manufacturing of 503B sterile compounded products and will exit the market in April 2023

 

  •  

Effected a 20:1 reverse stock split of Athenex common stock on February 15, 2023; the Company received notice on March 16, 2023 that it regained compliance with Nasdaq’s continued listing requirements

The following information was filed by Athenex, Inc. (ATNX) on Monday, March 20, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Athenex, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Athenex, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accrued Expenses
Accrued Expenses (Tables)
Accrued Expenses - Schedule Of Accrued Expensest (Detail)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income (Tables)
Accumulated Other Comprehensive (Loss) Income - Schedule Of Components And Changes Of Accumulated Other Comprehensive (Loss) Income (Detail)
Acquisitions - Additional Information (Detail)
Business Combination
Business Combination (Tables)
Business Combination - Additional Information (Details)
Business Combination - Schedule Of Unaudited Pro Forma Consolidated Financial Information (Details)
Business Combination - Summary Of Final Purchase Price Allocation To Fair Value Of Assets And Liabilities Acquired (Details)
Business Combination - Summary Of Final Purchase Price Allocation To Fair Value Of Assets And Liabilities Acquired (Parenthetical) (Details)
Business Segment, Geographic, And Concentration Risk Information
Business Segment, Geographic, And Concentration Risk Information (Tables)
Business Segment, Geographic, And Concentration Risk Information - Additional Information (Detail)
Business Segment, Geographic, And Concentration Risk Information - Summary Of Customer Revenue And Accounts Receivable Concentration (Detail)
Business Segment, Geographic, And Concentration Risk Information - Summary Of Depreciation, Amortization And Assets By Segment (Detail)
Business Segment, Geographic, And Concentration Risk Information - Summary Of Revenue By Geographical Segment (Detail)
Business Segment, Geographic, And Concentration Risk Information - Summary Of Revenue By Product Group (Detail)
Business Segment, Geographic, And Concentration Risk Information - Summary Of Revenue By Segments (Detail)
Business Segment, Geographic, And Concentration Risk Information - Summary Of Segment Information (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Schedule Of Future Minimum Payments Under Non-Cancelable Leases (Detail)
Company And Nature Of Business
Company And Nature Of Business - Additional Information (Detail)
Contingent Consideration
Contingent Consideration (Tables)
Contingent Consideration - Additional Information (Details)
Contingent Consideration - Schedule Of Reconciliation Of Contingent Consideration Liability Related To Acquisition (Details)
Debt And Lease Obligations
Debt And Lease Obligations (Tables)
Debt And Lease Obligations - Additional Information (Detail)
Debt And Lease Obligations - Schedule Of Future Minimum Payments And Maturities Of Leases (Detail)
Debt And Lease Obligations - Schedule Of Supplemental Balance Sheet Information Related To Leases Of Debt (Detail)
Debt And Lease Obligations - Schedule Of Supplemental Cash Flow Information Related To Leases (Detail)
Debt And Lease Obligations - Summary Of Balances Of Debt (Detail)
Debt And Lease Obligations - Summary Of Balances Of Debt (Parenthetical) (Detail)
Debt And Lease Obligations - Summary Of Components Of Lease Expense (Detail)
Debt And Lease Obligations - Summary Of Royalty Financing Liability Activity (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Detail)
Discontinued Operations - Schedule Of Financial Results Of Discontinued Operations (Detail)
Discontinued Operations - Schedule Of Financial Results Of Discontinued Operations (Parenthetical) (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Detail)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (Tables)
Goodwill And Intangible Assets, Net - Additional Information (Detail)
Goodwill And Intangible Assets, Net - Goodwill (Detail)
Goodwill And Intangible Assets, Net - Schedule Of Expected Amortization Expense Of Finite-Lived Intangible Assets (Detail)
Goodwill And Intangible Assets, Net - Summary Of Identifiable Intangible Asset, Net (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Loss Before Income Tax Expense (Benefit) From Continuing Operations (Detail)
Income Taxes - Components Of Loss Before Income Tax Expense (Benefit) From Discontinuing Operations (Details)
Income Taxes - Components Of The Income Tax (Benefit) Expense From Discontinuing Operations (Details)
Income Taxes - Components Of The Income Tax Expense (Benefit) From Continuing Operations (Detail)
Income Taxes - Schedule Of Income Tax Expense (Benefit) From Continuing Operations Differs From The Federal Statutory Rate (Detail)
Income Taxes - Schedule Of Net Deferred Income Tax Liabilities (Detail)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Detail)
Net Loss Per Share Attributable To Athenex, Inc. Common Stockholders
Net Loss Per Share Attributable To Athenex, Inc. Common Stockholders (Tables)
Net Loss Per Share Attributable To Athenex, Inc. Common Stockholders - Schedule Weighted Average Outstanding Shares Of Common Stock Equivalents Excluded From The Calculation Of Diluted Net Loss Per Share (Detail)
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Additional Information (Detail)
Property And Equipment, Net - Schedule Of Property, Plant And Equipment (Detail)
Related Party Transactions
Related Party Transactions - Additional Information (Detail)
Restricted Cash
Restricted Cash - Additional Information (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Detail)
Revenue Recognition - Schedule Of Company's Revenue For Reportable Segment By Country Based On Locations Of Customer (Detail)
Revenue Recognition - Summary Of Accounts Receivable Balances By Reportable Segments (Detail)
Revenue Recognition - Summary Of Receivables And Contract Liabilities From Contracts With Customers (Detail)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Schedule Of Status Of Restricted Stock Awards (Detail)
Stock-Based Compensation - Schedule Of Stock Option Activity (Detail)
Stock-Based Compensation - Schedule Of Stock-Based Compensation Cost (Detail)
Stock-Based Compensation - Schedule Of Weighted-Average Assumptions Used As Inputs To Black-Scholes Option Pricing Model (Detail)
Subsequent Events
Subsequent Events - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Property, Plant And Equipment, Useful Life (Detail)
Ticker: ATNX
CIK: 1300699
Form Type: 10-K Annual Report
Accession Number: 0000950170-23-008734
Submitted to the SEC: Mon Mar 20 2023 2:05:15 PM EST
Accepted by the SEC: Mon Mar 20 2023
Period: Saturday, December 31, 2022
Industry: Pharmaceutical Preparations

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