ATNX - Athenex EPS beats by $0.13 beats on revenue

Athenex (ATNX): Q1 GAAP EPS of -$0.27 beats by $0.13.Revenue of $41.03M (-12.6% Y/Y) beats by $16.49M.As of March 31, 2021, the Company had cash and cash equivalents of $48.0 million, restricted cash of $16.5 million, and short-term investments of $123.2 million.In terms of product sales guidance, the Company is limiting financial guidance to only the existing product portfolio, which excludes any proprietary products, until meaningful sales data from the proprietary product, Klisyri®, become available. In 2020, the Company recorded a significant amount of revenues from international customers as a result of the global pandemic. However, the Company does not see these revenues as recurring in nature. The Company continues to expand its product portfolio. The Company is affirming the guidance it provided on March 1, 2021, as it currently expects its product sales in 2021, excluding any royalties from Klisyri®, to be in line with 2020 levels.Shares +2.2% PM.Press

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Athenex EPS beats by $0.13, beats on revenue