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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