Athenex Provides An Update to Shareholders
October 24 2019 - 7:00AM
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 provides an update to its shareholders.
Short seller reports on Athenex were recently published and the
Company believes these reports are unfounded and contain inaccurate
information. The Company believes the reports are a malicious
attempt by certain market participants attempting to coordinate a
short seller attack, seeking to profit from a decline in the
Company’s stock price, and this has resulted in unwanted stock
price volatility at the expense of legitimate shareholders.
Athenex would like to take this opportunity to reiterate its
confidence in the Company’s ability to execute on clinical
development, regulatory and commercialization fronts, and to
capture the potential opportunity of its oral paclitaxel and
encequidar program as well as the broader oncology-focused
pipeline.
Athenex also reiterates its firm commitment to strong corporate
governance. The Board provides governance oversight to ensure
fairness and transparency, and periodically reviews its governance
policies and practices. In particular, when considering
related party transactions, Athenex’s Board of Directors has
established special independent committees who retain independent
legal counsel, financial advisors and other third-party experts as
appropriate to ensure the fairness of any proposed transaction to
the Company and its stockholders.
The Company issues the following statement: “We take pride in
the integrity, acumen and vast experience of the entire Athenex
management team and Board of Directors as we continue to build a
world-class and fully-integrated biopharmaceutical company with
strong governance that delivers long-term shareholder value. We are
focused on our mission of becoming a global leader in bringing
innovative cancer treatments to patients in need. We look forward
to many clinical and other business updates ahead, including our
data presentation at the San Antonio Breast Cancer Symposium in
December, and we remain on track in our preparations for the NDA
submissions for our two lead product candidates.”
Shareholders should refer to the Company's disclosure documents
filed with U.S. securities regulatory authorities, which are
available online under the Company’s EDGAR profile at www.sec.gov,
and on the Company's website at www.athenex.com. Investors should
exercise caution in relying on any information promoted by certain
market participants who stand to profit from a decline in the
Company’s stock price.
About Athenex, Inc. Founded in
2003, Athenex, Inc. is a global clinical stage
biopharmaceutical company dedicated to becoming a leader in the
discovery, development and commercialization of next generation
drugs for the treatment of cancer. Athenex is organized
around three platforms, including an Oncology Innovation Platform,
a Commercial Platform and a Global Supply Chain Platform. The
Company’s current clinical pipeline is derived from four different
platform technologies: (1) Orascovery, based on non-absorbed
P-glycoprotein inhibitor, (2) Src kinase inhibition, (3) T-cell
receptor-engineered T-cells (TCR-T), and (4) Arginine deprivation
therapy. Athenex’s employees worldwide are dedicated to improving
the lives of cancer patients by creating more active and tolerable
treatments. Athenex has offices
in Buffalo and Clarence, New York; Cranford,
New Jersey; Houston, Texas; Chicago, Illinois; Hong
Kong; Taipei, Taiwan; multiple locations
in Chongqing, China; and Manchester, UK. For more
information, please
visit www.athenex.com.
Forward-Looking Statements Except for
historical information, all of the statements, expectations, and
assumptions contained in this press release are forward-looking
statements. These forward-looking statements are typically
identified by terms such as “anticipate,” “believe,” “continue,”
“could,” “estimate,” “evaluate,” “expect,” “foresee,” “guidance,”
“intend,” “investigate,” “likely,” “may,” “plan,” “potential,”
“predict,” “preliminary,” “prepare,” “potential,” “probable,”
“project,” “promising,” “seek,” “should,” “will,” “would,” and
similar expressions. Actual results might differ materially
from those explicit or implicit in the forward-looking statements.
Important factors that could cause actual results to differ
materially include: the development stage of our primary clinical
candidates and related risks involved in drug development, clinical
trials, regulation, manufacturing and commercialization; our
reliance on third parties for success in certain areas of
Athenex’s business; our history of operating losses and need to
raise additional capital to continue as a going concern;
competition; intellectual property risks; risks relating to doing
business in China; the uncertainty of when, if at all, we will
be able to resume producing API in our Chongqing plant;
and the other risk factors set forth from time to time in
our SEC filings, copies of which are available for free
in the Investor Relations section of our website
at http://ir.athenex.com/phoenix.zhtml?c=254495&p=irol-sec
or upon request from our Investor Relations Department. All
information provided in this release is as of the date hereof and
we assume no obligation and do not intend to update these
forward-looking statements, except as required by law.
CONTACTS
Investor Relations: Tim McCarthy Managing Director, LifeSci
Advisors, LLC Tel: +1 716-427-2952 Direct: +1
212-915-2564
Athenex, Inc.: Randoll Sze Chief Financial Officer
Email: randollsze@athenex.com
Jacqueline Li Corporate Development and Investor Relations
Email: jacquelineli@athenex.com
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