Athenex has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No pricing details were mentioned in the filing, but the offering is valued up to $100 million, although this number is usually just a placeholder. The company intends to list its shares on the Nasdaq under the symbol ATNX.
The underwriters for the offering are Credit Suisse, JPMorgan and Deutsche Bank.
This global biopharmaceutical company is dedicated to the discovery, development and commercialization of novel therapies for the treatment of cancer. Its mission is to improve the lives of cancer patients by creating more effective, safer and tolerable treatments. The firm has generated its clinical product candidates through the Orascovery and Src Kinase Inhibition research platforms, which are based on the understanding of human absorption biology and novel approaches to inhibiting kinase activity, respectively.
Management believes that the firm’s ability to overcome the challenges of oral delivery of chemotherapy and limitations associated with IV delivery, via its P-gp inhibitor, offers significant potential benefits to patient outcomes by allowing patients to stay on therapy longer and extending the potential opportunities to combine with other agents, including targeted and immunotherapies that would otherwise be too toxic in combination with IV chemotherapy.
This company is based in Buffalo, New York, and was formed in 2003. Athenex has been funded from inception by over $250 million in private financings and public-private partnerships with an estimated aggregate value of $375 million.
Athenex intends to use the net proceeds from this offering for the following:
- Approximately $28 million for Phase 3 clinical trials of Oraxol for treatment of metastatic breast cancer.
- Approximately $12 million for additional clinical development and regulatory activities for our Orascovery platform.
- Approximately $20 million for Phase 3 clinical trials of KX-01 ointment for treatment of actinic keratosis.
- Approximately $25 million for clinical and pre-clinical research and development.
- The remainder for working capital, capital expenditures and general corporate purposes.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
