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Athenex, Inc. (ATNX) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

Athenex, Inc.

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CIK: 1300699 Ticker: ATNX

Exhibit 99.1

Athenex Provides Fourth Quarter and Full Year 2021 Financial Results and

Provides Business Update

Announces Strategic Pivot to Focus on Cell Therapy Programs

Receives FDA Clearance for IND to Expand CD19 CAR-NKT ANCHOR to a Multi-center Study

Implementing Significant Cost Reduction Plan Targeting >50% Reduction in Operating Expenses

Plans to Extend Cash Runway in 2022 Through Monetization of Non-core Assets Consistent with Shift in Focus and Strategy

Management to host conference call and webcast today at 4:30 p.m. ET

Buffalo, N.Y., March 16, 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 provided a corporate and financial update for the fourth quarter and full year ended December 31, 2021.

“We are pleased to announce our new vision for the future of Athenex, by deploying our resources and harnessing our expertise toward the advancement of our promising cell therapy programs. The encouraging data that we have generated so far, along with our belief that cell therapy is driving the next major innovation cycle in cancer treatment, give us confidence in our new strategy,” said Johnson Lau, Chief Executive Officer of Athenex. “We are taking action to swiftly redirect our resources and have begun executing on cost savings measures to right-size the company and support our transformation to a lean, focused cell therapy company.”

Corporate Developments

Key Program and Business Updates

 

  •  

Focus R&D resources on developing cell therapy programs

 

  •  

Discontinue oral discovery program apart from oral paclitaxel

 

  •  

Reducing operating expenses: With the objective of extending its cash runway, the Company is implementing cost cutting initiatives and workforce reduction to lower operating expenses by over 50%

 

  •  

Plan to monetize non-core assets consistent with new focus and strategy of company

Key Anticipated Milestones

 

  •  

Update on ANCHOR data previously presented at ASH in 2021 at ASTCT on April 23-26, 2022

 

  •  

Update from KUR-501, our autologous program in pediatric neuroblastoma at the American Society of Gene & Cell Therapy (ASGCT) annual meeting on May 16-19, 2022

 

  •  

Preclinical data presentation of allogeneic GPC3 CAR-NKT cell program in liver cancer at ASCO in June

 

  •  

Expand CD19 CAR-NKT ANCHOR study to a multi-center study under the newly allowed IND

 

  •  

Data update from KUR-502 at American Society of Hematology (ASH) on December 10-13, 2022

 

  •  

Potential regulatory update from MHRA for Oral Paclitaxel in metastatic breast cancer (mBC) in UK

The following information was filed by Athenex, Inc. (ATNX) on Wednesday, March 16, 2022 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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Definitive Proxy Statement (Form DEF 14A)
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Athenex, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 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
Accumulated Other Comprehensive Loss (Tables)
Accumulated Other Comprehensive Loss - Schedule Of Accumulated Other Comprehensive Loss (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 Purchase Price And Initial Estimates Of Fair Values 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 Property And Equipment By Geographical 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)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Detail)
Discontinued Operations - Schedule Of Financial Results Of Discontinued Operations (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)
Fair Value Measurements - Schedule Of Assets Measured At Fair Value On A Non-Recurring Basis (Details)
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 (Benefit) Expense From Continuing Operations (Detail)
Income Taxes - Components Of Loss Before Income Tax (Benefit) Expense From Discontinuing Operations (Details)
Income Taxes - Components Of The Income Tax (Benefit) Expense From Continuing Operations (Detail)
Income Taxes - Components Of The Income Tax (Benefit) Expense From Discontinuing Operations (Details)
Income Taxes - Schedule Of Income Tax Expense 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: 0000950170-22-003973
Submitted to the SEC: Wed Mar 16 2022 5:28:06 PM EST
Accepted by the SEC: Wed Mar 16 2022
Period: Friday, December 31, 2021
Industry: Pharmaceutical Preparations

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