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Exhibit 99.1
Athenex, Inc. Reports Second Quarter Ended June 30, 2020 Financial Results and Provides Corporate Update
Regulatory progress for Oral Paclitaxel and tirbanibulin ointment is on track
Continued momentum in building commercialization infrastructure and supply chain for Oral Paclitaxel
Announced two financing agreements for up to $275 million in aggregate
Product sales guidance for 2020 raised to mid-teens percentage growth y/y
Conference call and live webcast at 8.00am ET today
BUFFALO, N.Y., August 06, 2020 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 announced its financial results and business highlights for the second quarter ended June 30, 2020.
So far, 2020 has been a very productive year at Athenex. We continued to make advancement in our two lead products, Oral Paclitaxel and tirbanibulin ointment, both of which we believe could be important and valuable medicines, stated Dr. Johnson Lau, Chairman and Chief Executive Officer of Athenex. We are completing our commercialization infrastructure and our supply chain, further positioning Athenex as a commercial-stage biopharmaceutical company. We also added to our Board of Directors with the appointment of Robert J. Spiegel, MD, an industry veteran with extensive experience developing and securing approvals for oncology products.
We have strengthened our balance sheet by accessing non-dilutive capital, continued Dr. Lau. This provides us with the financial flexibility to continue advancing the development and commercialization of our lead drug candidates and to further invest in the lifecycle management of Oral Paclitaxel and additional pipeline development activities.
Second Quarter 2020 and Recent Business Highlights:
Clinical Programs:
Tirbanibulin Ointment for Actinic Keratosis (AK)
| The U.S. Food and Drug Administration (FDA) has set a PDUFA target action date for tirbanibulin ointment as December 30, 2020. |
| A Marketing Authorization Application (MAA) has been submitted to the European Medicines Agency (EMA) by the Companys partner Almirall and validated. |
Oral Paclitaxel for Metastatic Breast Cancer
| Athenex will provide an update on its NDA submission after a response from the FDA becomes available. |
Oral Paclitaxel in Cutaneous Angiosarcoma ASCO 2020 Presentation
| Athenex presented interim data from an ongoing Phase II clinical trial of Oral Paclitaxel monotherapy in elderly patients with unresectable cutaneous angiosarcoma, an aggressive malignancy with no FDA approved treatment. |
| The interim data showed a clinical benefit rate (CR+PR+SD) of 100% in 22 evaluable patients receiving Oral Paclitaxel treatment. All 22 patients experienced reduction in tumor size. Complete responses (CR) were observed in 27.3% of patients (6/22), partial responses (PR) were observed in 22.7% of patients (5/22), and stable disease was observed in 50% of patients (11/22). |
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Athenex, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Athenex, Inc. provided additional information to their SEC Filing as exhibits
Ticker: ATNX
CIK: 1300699
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-037346
Submitted to the SEC: Thu Aug 06 2020 10:00:08 AM EST
Accepted by the SEC: Thu Aug 06 2020
Period: Tuesday, June 30, 2020
Industry: Pharmaceutical Preparations