Bust­ed in the wake of a CRL, Athenex brings out bud­get axe af­ter 'go­ing con­cern' alert

Athenex’s stock price dropped off a cliff a year ago when the FDA man­aged to sur­prise its back­ers with a CRL and a de­mand for a new tri­al for its lead ther­a­py for metasta­t­ic breast can­cer. A brief bounce soon af­ter with a $70 mil­lion biotech buy­out failed to halt the slide, leav­ing its shares in the pen­ny stock are­na.

And now the oth­er shoe is drop­ping as the com­pa­ny’s au­di­tors wave a red warn­ing flag about Athenex’s abil­i­ty to keep chug­ging along at this rate.

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