Announcement • Jul 08
Nasdaq to Delist the Common Stock of Athenex Nasdaq also announced on July 06, 2023 that it will delist the common stock of Athenex, Inc. The company’s securities were suspended on April 13, 2023, and have not traded on Nasdaq since that time. Announcement • May 26
Athenex, Inc.(OTCPK:ATNX.Q) dropped from NASDAQ Composite Index Athenex, Inc. has been dropped from NASDAQ Composite Index. Announcement • May 25
Athenex, Inc. announced delayed 10-Q filing On 05/23/2023, Athenex, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 24
Nasdaq Staff Determines Athenex's Common Stock to be Delisted from Nasdaq as a Result of the Chapter 11 Case On May 16, 2023, Athenex, Inc. received written notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that, as a result of the Chapter 11 Case and in accordance with Nasdaq Listing Rules 5101, 5110(b), and IM-5101-1, the Nasdaq staff determined that the Company’s common stock will be delisted from Nasdaq. The Company does not intend to appeal this determination. Trading of the Company’s common stock will be suspended at the opening of business on May 25, 2023. Announcement • May 18
Athenex, Inc.(NasdaqGS:ATNX) dropped from S&P TMI Index Athenex, Inc.(NasdaqGS:ATNX) dropped from S&P TMI Index Announcement • May 05
Athenex Receives Letter from the Listing Qualifications Staff of the Nasdaq as the Company No Longer Meets Nasdaq Listing Rule 5450(b)(3)(C) On April 27, 2023, Athenex, Inc. received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock for the last 30 consecutive business days and its number of publicly held shares, the Company no longer meets Nasdaq Listing Rule 5450(b)(3)(C), which requires listed companies to maintain a minimum market value of publicly held shares of at least $15 million. Nasdaq Listing Rule 5810(c)(3)(D) provides a compliance period of 180 calendar days, or until October 24, 2023, in which to regain compliance with this requirement. If the Company’s market value of publicly held shares is $15 million or more for a minimum of 10 consecutive business days during the 180-day compliance period, Nasdaq will provide written notice of compliance to the Company. If the Company fails to regain compliance with the Nasdaq continued listing standards, Nasdaq will provide notice that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. The notification has no immediate effect on the listing of the Company’s common stock on Nasdaq’s Global Select Market. The Company intends to monitor the closing bid price of its common stock and its number of publicly held shares and consider its available options in the event the market value of its publicly held shares remains below $15 million. Announcement • Feb 17
Athenex Announces Reverse Stock Split Athenex, Inc. announced that it will effect a 1-for-20 reverse stock split of its issued common stock, effective at 12:01 a.m. Eastern Time on February 15, 2023. Beginning tomorrow, February 15, 2023, the Company's common stock will trade on a split-adjusted basis. The Company's Board of Directors implemented the reverse stock split with the objective of regaining compliance with the $1.00 minimum bid price requirement of The Nasdaq Global Select Market. The Company has until March 14, 2023 to comply with this requirement. To evidence compliance with this requirement, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days by March 14, 2023. The Company's shares of common stock will continue to trade on The Nasdaq Global Select Market under the symbol "ATNX." The new CUSIP number for the Company's common stock post-reverse stock split is 04685N202. Announcement • Jan 04
Athenex Announces MHRA Decision on Oral Paclitaxel Athenex, Inc. announced that its proprietary Oral Paclitaxel formulation did not receive regulatory approval from the United Kingdom's Medicines and Healthcare Products Regulatory Agency (MHRA) for metastatic breast cancer based solely on CMC issues. The MHRA application was not rejected based on any clinical efficacy or safety concerns expressed by the MHRA. MHRA regulations allow an applicant to request a re-examination of an opinion by an independent board which the Company plans to pursue. The Company views the identified CMC issues as addressable. Price Target Changed • Nov 16
Price target decreased to US$2.17 Down from US$2.33, the current price target is an average from 3 analysts. New target price is 965% above last closing price of US$0.20. Stock is down 90% over the past year. The company is forecast to post a net loss per share of US$0.66 next year compared to a net loss per share of US$1.85 last year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Director Bob Spiegel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: US$0.14 loss per share (improved from US$0.33 loss in 3Q 2021). Revenue: US$33.5m (up 3.8% from 3Q 2021). Net loss: US$19.4m (loss narrowed 46% from 3Q 2021). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 6.7%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Biotechs industry in the US. Reported Earnings • Jul 28
Second quarter 2022 earnings released: US$0.21 loss per share (vs US$0.33 loss in 2Q 2021) Second quarter 2022 results: US$0.21 loss per share (up from US$0.33 loss in 2Q 2021). Revenue: US$31.5m (up 44% from 2Q 2021). Net loss: US$23.8m (loss narrowed 31% from 2Q 2021). Over the next year, revenue is forecast to grow 8.2%, compared to a 40% growth forecast for the industry in the US. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Director Bob Spiegel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 10
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.16 loss per share. Revenue: US$29.7m (down 28% from 1Q 2021). Net loss: US$30.0m (loss widened 20% from 1Q 2021). Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Over the next year, revenue is forecast to grow 9.0%, compared to a 48% growth forecast for the industry in the US. Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Independent Director Bob Spiegel was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Apr 27
Price target decreased to US$4.50 Down from US$5.25, the current price target is an average from 5 analysts. New target price is 765% above last closing price of US$0.52. Stock is down 88% over the past year. The company is forecast to post a net loss per share of US$0.49 next year compared to a net loss per share of US$1.85 last year. Price Target Changed • Apr 13
Price target decreased to US$4.50 Down from US$5.40, the current price target is an average from 4 analysts. New target price is 552% above last closing price of US$0.69. Stock is down 83% over the past year. The company is forecast to post a net loss per share of US$0.51 next year compared to a net loss per share of US$1.85 last year. Major Estimate Revision • Mar 23
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$135.3m to US$114.9m. EPS estimate increased from -US$1.01 to -US$0.55 per share. Biotechs industry in the US expected to see average net income decline 46% next year. Consensus price target down from US$6.25 to US$5.50. Share price rose 16% to US$0.99 over the past week. Reported Earnings • Mar 19
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: US$1.85 loss per share (down from US$1.67 loss in FY 2020). Revenue: US$120.2m (down 17% from FY 2020). Net loss: US$192.0m (loss widened 35% from FY 2020). Products in clinical trials Phase I: 5 Phase II: 1 Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 43%. Over the next year, revenue is expected to shrink by 4.4% compared to a 64% growth forecast for the pharmaceuticals industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 57% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 18
Price target decreased to US$5.50 Down from US$6.25, the current price target is an average from 4 analysts. New target price is 479% above last closing price of US$0.95. Stock is down 81% over the past year. The company is forecast to post a net loss per share of US$0.55 next year compared to a net loss per share of US$1.85 last year. Price Target Changed • Feb 24
Price target increased to US$6.67 Up from US$5.60, the current price target is an average from 3 analysts. New target price is 726% above last closing price of US$0.81. Stock is down 93% over the past year. The company is forecast to post a net loss per share of US$1.34 next year compared to a net loss per share of US$1.72 last year. Recent Insider Transactions • Nov 20
Independent Director recently bought US$61k worth of stock On the 17th of November, Jinn Wu bought around 30k shares on-market at roughly US$2.03 per share. In the last 3 months, they made an even bigger purchase worth US$161k. Despite this recent purchase, insiders have collectively sold US$2.0m more in shares than they bought in the last 12 months. Reported Earnings • Nov 05
Third quarter 2021 earnings released: US$0.33 loss per share (vs US$0.44 loss in 3Q 2020) The company reported a soft third quarter result with weaker revenues and control over costs, although losses reduced. Third quarter 2021 results: Revenue: US$32.3m (down 9.0% from 3Q 2020). Net loss: US$36.1m (loss narrowed 2.0% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 15
Independent Director recently bought US$161k worth of stock On the 14th of September, Jinn Wu bought around 50k shares on-market at roughly US$3.22 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$2.0m more in shares than they bought in the last 12 months. Executive Departure • Aug 18
Chief Financial Officer Randoll Sze has left the company On the 13th of August, Randoll Sze's tenure as Chief Financial Officer ended after 3.0 years in the role. As of June 2021, Randoll still personally held only 6.00k shares (US$28k worth at the time). Randoll is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.42 years. Reported Earnings • Aug 08
Second quarter 2021 earnings released: US$0.33 loss per share (vs US$0.50 loss in 2Q 2020) The company reported a soft second quarter result with weaker revenues and control over costs, although losses reduced. Second quarter 2021 results: Revenue: US$21.9m (down 45% from 2Q 2020). Net loss: US$34.3m (loss narrowed 15% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 06
Consensus EPS estimates fall to -US$1.31 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from US$124.5m to US$120.9m. Losses expected to increase from -US$1.14 to -US$1.31. Biotechs industry in the US expected to see average net income decline 12% next year. Consensus price target down from US$7.95 to US$7.33. Share price fell 4.5% to US$3.60 over the past week. Price Target Changed • Jul 07
Price target decreased to US$7.50 Down from US$8.67, the current price target is an average from 8 analysts. New target price is 86% above last closing price of US$4.03. Stock is down 70% over the past year. Reported Earnings • May 11
First quarter 2021 earnings released: US$0.27 loss per share (vs US$0.24 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$41.0m (down 13% from 1Q 2020). Net loss: US$25.1m (loss widened 29% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Recent Insider Transactions Derivative • May 07
Independent Director exercised options to buy US$230k worth of stock. On the 5th of May, Jinn Wu exercised options to buy 50k shares at a strike price of around US$4.55, costing a total of US$228k. This transaction amounted to 16% of their direct individual holding at the time of the trade. Since June 2020, Jinn's direct individual holding has decreased from 371.21k shares to 303.21k. Company insiders have collectively sold US$342k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 07
Consensus EPS estimates increase to -US$1.42 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from US$115.2m to US$120.9m. EPS estimate increased from -US$1.74 to -US$1.42. Biotechs industry in the US expected to see average net income decline 13% next year. Consensus price target of US$8.67 unchanged from last update. Share price rose 15% to US$4.60 over the past week. Recent Insider Transactions Derivative • Mar 20
Chairman & CEO exercised options to buy US$98k worth of stock. On the 19th of March, Yiu-Nam Lau exercised options to buy 20k shares at a strike price of around US$4.55, costing a total of US$91k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since March 2020, Yiu-Nam's direct individual holding has increased from 3.28m shares to 3.33m. Company insiders have collectively sold US$380k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Mar 11
Insider recently sold US$1.9m worth of stock On the 4th of March, Wei Zuo sold around 420k shares on-market at roughly US$4.52 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$560k more than they bought in the last 12 months. Major Estimate Revision • Mar 08
Analysts lower revenue estimates to US$115.2m The 2021 consensus revenue estimate decreased from US$178.3m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -US$1.18 to -US$1.47 for the same period. The Biotechs industry in the US is expected to see an average net income growth of 4.8% next year. The consensus price target was lowered from US$27.41 to US$10.00. Share price is down by 64% to US$4.32 over the past week. Recent Insider Transactions • Mar 05
Independent Director recently sold US$466k worth of stock On the 3rd of March, Jinn Wu sold around 98k shares on-market at roughly US$4.75 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.9m more than they sold in the last 12 months. Reported Earnings • Mar 03
Full year 2020 earnings released: US$1.72 loss per share (vs US$1.67 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: US$144.4m (up 43% from FY 2019). Net loss: US$146.2m (loss widened 18% from FY 2019). Post-clinical trial products Approved (during full year): 1 Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 9.4%. Over the next year, revenue is expected to shrink by 4.0% compared to a 1,173% growth forecast for the Biotechs industry in the US. Is New 90 Day High Low • Mar 02
New 90-day low: US$5.46 The company is down 59% from its price of US$13.30 on 01 December 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$80.60 per share. Price Target Changed • Mar 02
Price target lowered to US$24.78 Down from US$27.74, the current price target is an average from 9 analysts. The new target price is 354% above the current share price of US$5.46. As of last close, the stock is down 58% over the past year. 