Athenex, Inc. (ATNX) SEC Filing 10-Q Quarterly Report for the period ending Friday, September 30, 2022

Bolstered balance sheet with $30 million public offering of common stock and warrants

Nasdaq Hearing Panel grants Athenex’s request for continued listing

Athenex is in the final stages of closing the sale of the China API operations

I-SPY 2 study with Oral Paclitaxel expected to be completed by year-end 2022

Phase 1 study updates for autologous KUR-501 (GD2 CAR-NKT cell therapy) in relapsed/refractory high-risk neuroblastoma (GINAKIT2) and allogeneic KUR-502 (CD19 CAR-NKT cell therapy) in relapsed/refractory B-cell malignancies (ANCHOR) expected by H1 2023

Full-year 2022 product revenue guidance maintained at 20-25% growth year-over-year

Management to host conference call and webcast today at 8:00 am EDT

Announced pricing of $30 million public offering of common stock and warrants

Successful Nasdaq hearing confirming the company can continue its listing on The Nasdaq Stock Market subject to demonstrating compliance with the minimum bid price requirement by March 14, 2023

Athenex has met all closing conditions for the sale of the China API operations for approximately $18 million and is in the final stages of closing the transaction, which is expected to occur as soon as COVID-related restrictions are lifted. At closing, the company expects to receive 70% of the proceeds, with 20% and 10% of proceeds receivable within three months and six months of closing, respectively. Furthermore, the company anticipates entering into a supply agreement for API and a waiver of the rights of its senior secured lender to receive any additional proceeds from the sale

Cash Flows from Operating Activities in Continuing Operations was -$15.7M, a 53% year-over-year decrease

Ongoing sequential enrollment of two additional cohorts in single-institution Phase 1 dose escalation GINAKIT2 study at the 2 highest dose levels (DL5: 3x10⁸ cells/m²; DL6: 1x10⁹ cells/m²)