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 provided a corporate and financial update for the fourth quarter and full year ended December 31, 2020.
Product sales were $21.8 million, up from $14.1 million for the three months ended December 31, 2019, which represents a 54% increase. Total revenues were $21.8 million compared to $34.4 million for the same period in 2019.
Net losses attributable to Athenex for the three months were $49.5 million, or ($0.53) per diluted share, as compared to a net loss of $21.7 million, or ($0.28) per diluted share, for the same period in 2019.
The company recognized a $7.2-million loss on the extinguishment of debt related to the termination of the senior secured loan agreement with Perceptive and a $3.0 million loss on the partial extinguishment of debt related to the assignment of a portion of the senior secured loan from Oaktree’s co-investors to Sagard during the year ended December 31, 2020. We did not incur expenses of similar nature in 2019.
As of December 31, 2020, the Company had cash, cash equivalents and restricted cash of $86.1 million and short-term investments of $138.6 million.
ATNX shares tumbled $6.21, or 51.3%, to $5.89
