- Athenex (NASDAQ:ATNX) Q4 results:
- Revenues: $21.8M (-36.6%), beats estimates by $1.09M.
- Net Loss: ($49.5M), compared with $21.73M last year; Loss Per Share: ($0.53)
- Shares down nearly 22% premarket.
- Athenex also received a complete response letter (CRL) from the FDA regarding its New Drug Application (NDA) for oral paclitaxel plus encequidar for the treatment of metastatic breast cancer.
- Research & Development expenses totaled $18.3M for the three months ended December 31, 2020, a decrease of 16% compared to last year.
- As of December 31, 2020, the company had cash, cash equivalents and restricted cash of $86.1M and short-term investments of $138.6M.
- Outlook and Upcoming Milestones:
- The company currently expects its product sales in 2021, excluding any royalties from Klisyri, to be in line with 2020 levels.
- Athenex said that it is limiting its sales financial guidance to only the existing product portfolio.
- The company expects its cash, cash equivalents, restricted cash, and short-term investments as of December 31, 2020, will enable it to meet its current operational liquidity needs and fund operations into Q2 2022.
- Previously (March 1): Athenex EPS misses by $0.09, beats on revenue.