ATNX - Athenex shares slide after Q4 results FDA setback

Athenex (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

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Athenex shares slide after Q4 results, FDA setback