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SEC Filings

10-Q
ATHENEX, INC. filed this Form 10-Q on 05/09/2019
Entire Document
 

PART I—FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements.

ATHENEX, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(unaudited)

(In thousands, except share and per share data)

 

 

 

March 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

71,003

 

 

$

49,794

 

Short-term investments

 

 

341

 

 

 

57,629

 

Accounts receivable, net of chargebacks and other deductions of $10,448

   and $13,101, respectively, and allowance for doubtful accounts

   of $8 and $9, respectively

 

 

20,576

 

 

 

12,951

 

Inventories

 

 

25,191

 

 

 

28,787

 

Prepaid expenses and other current assets

 

 

33,569

 

 

 

21,658

 

Total current assets

 

 

150,680

 

 

 

170,819

 

Property and equipment, net

 

 

12,249

 

 

 

11,447

 

Goodwill

 

 

37,589

 

 

 

37,495

 

Intangible assets, net

 

 

10,361

 

 

 

10,848

 

Operating lease right-of-use assets, net

 

 

9,428

 

 

 

 

Deferred income tax assets

 

 

 

 

 

486

 

Total assets

 

$

220,307

 

 

$

231,095

 

Liabilities and stockholders' equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

20,389

 

 

$

12,997

 

Accrued expenses

 

 

42,571

 

 

 

37,718

 

Current portion of operating lease liabilities

 

 

3,067

 

 

 

 

Current portion of long-term debt

 

 

1,720

 

 

 

961

 

Total current liabilities

 

 

67,747

 

 

 

51,676

 

Long-term liabilities:

 

 

 

 

 

 

 

 

Deferred compensation

 

 

2,605

 

 

 

2,825

 

Deferred rent

 

 

 

 

 

2,022

 

Long-term operating lease liabilities

 

 

8,362

 

 

 

 

Long-term debt and finance lease obligations

 

 

46,012

 

 

 

45,803

 

Total liabilities

 

 

124,726

 

 

 

102,326

 

Commitments and contingencies (See Note 15)

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

 

 

Common stock, par value $0.001 per share, 250,000,000 shares authorized at

   March 31, 2019 and December 31, 2018; 68,718,618 and 68,668,986 shares

   issued at March 31, 2019 and December 31, 2018, respectively; 67,045,698

   and 66,996,066 shares outstanding at March 31, 2019 and

   December 31, 2018, respectively

 

 

69

 

 

 

69

 

Additional paid-in capital

 

 

593,035

 

 

 

591,064

 

Accumulated other comprehensive income (loss)

 

 

415

 

 

 

(656

)

Accumulated deficit

 

 

(478,949

)

 

 

(443,716

)

Less: treasury stock, at cost; 1,672,920 shares at March 31, 2019 and

   December 31, 2018

 

 

(7,406

)

 

 

(7,406

)

Total Athenex, Inc. stockholders' equity

 

 

107,164

 

 

 

139,355

 

Non-controlling interests

 

 

(11,583

)

 

 

(10,586

)

Total stockholders' equity

 

 

95,581

 

 

 

128,769

 

Total liabilities and stockholders' equity

 

$

220,307

 

 

$

231,095

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

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